The grand daddy of the semiconductor stocks, Intel ($INTC), is back on my radar and this time for a positive reason
The stock broke out of a month-long consolidation pattern last Friday and hit the best level in over four years. The stock, long considered a bellwether for the semiconductor and overall technology sector is up and running again.
The chart below shows the breakout of the consolidation pattern (two horizontal lines). Technically the stock looks great as long as it holds the $26.50 to $27.00 area on any pullbacks in the coming days. If INTC can test the level and hold it will trigger a buy signal.
Fundamentally my attractive to the stock increases. A PEG ratio of 0.97 is great considering it is a megacap tech stock that is not growing nearly as quickly as it was in the past. And add in the 3.1% dividend yield and INTC looks like a great catch at current levels.
** My firm and myself do not currently own any shares of INTC.
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