Swing Trade Quick Pick: Intel
Ryan Mallory | Sep 13, 2013 01:07AM ET
But the setup today is one that I can't help but pay attention to.
First you have a double bottom that has been put in place, followed by a break of the down trend from the June highs. It is a bit overbought but if there is one thing that we've learned this year, is that stocks love to stay overbought for extended periods of time. So that's no worry there either.
No that it is pulled back to the breakout level, it offers a tight risk and one that I am thinking long and hard about taking before the end of the day.
Here's the trade setup in Intel (INTC):
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