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Intel (Nasdaq: INTC) is moving back toward a long term up trend.
Don't look now, but Intel is just a few points below its 200 day moving average, and a move above that key line could hold some significant implications, for the stock, and for the market.
Intel is part of the Nasdaq, the Nasdaq 100, the Dow Jones Industrial Average, and the S & P 500. That means that a rally in the stock will give some weight to gains in at least four widely watched indexes, indicators that are watched carefully by technically driven traders.
According to recent reports, the company's Atom chip, used in small laptops and desktops is in huge demand, boosting the potential for future sales and presumably profits.
The company is also expanding into direct sales via its online "Business Exchange," a store meant to sell software to small businesses that can work along with its chips.
The key level is the 23-24 area. A move above that could be very significant for the market.
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