I figured that I’d pass this one along although there’s more moving parts than with the typical trade ideas that I share due to the fact the stock is reporting earnings after the close today. INTC will trigger a buy signal on a solid break above the 30.50 resistance level although the stock reports after the close & will likely either foil this setup or trigger the breakout followed by a gap up tomorrow.
INTC daily Jan 26th
Keep in mind that INTC could pop above the resistance in the after-hours session today, only to fall back tomorrow, similar to what MSFT did on Tuesday (rallying hard right into its converging 200-day moving averages, followed by an equally hard rejection off that key resistance level). Either way, take or pass on this one if not your type of setup or if risk-averse.
One other strategy is the quick post-earning “fade”, shorting the stock should it spike into either the first or second price targets (although I wouldn’t short or go long on a big drop in the AH session).