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5/26/99 Intel Corp
(INTC)
Points to watch: Intel fell below strong support
at 54.88 yesterday, the 50% retracement of its October-January rally, which had acted as
support in March and April. The stock also moved below its 200 day moving average
(54.75) for the first time since last October. Intel closed yesterday at 52.88.
We would wait to short the stock until it falls below support at 50.88 (the 62%
retracement of its October-January rally). Upside resistance is at 54.88 and 57.13.
