Technical analysis is good in the absence of news. Today, the dividend anouncement and reiterated the good outlook that analysts had been losing confidence in. NEWS trumps technical analysis and resets the technical analysis baselines.
"Worldwide demand for computing continues to increase at a very rapid rate, putting Intel on track for revenue growth of over 20 percent this year," Chief Executive Paul Otellini said in a statement.
May 17 investor meeting coming up next week. Some strong confident comments will be made about continued growth for Intel for many years. But at any time, Intel may turn up the heat with some buyback pressure. That alone will break any resistance along the way to the $30's. Can't see why Intel will not get there this year. Especially if Intel proves in the next 2 to 3 months that they are on their way to earnings above $2.50 a share. Then $30 will only be 12 times earnings.