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What Should You Be Doing With Tech Stocks Like Apple, IBM, and Intel?

By provides buy and sell ratings for these tech titans.

Apple (AAPL)

As we are approaching new all-time highs on Apple, what should you be doing with this stock? Earnings caused a gap lower in price. Key support stood at $568.00, and this was a critical test for the market. Subsequently, the recent low was $570.00. The market blew through major resistance at $592.00. If you are long at this juncture, look to be selling $650.00 September calls against long positions. Algorithm Buy/Sell Rating: Rated a Strong Buy for 43 days, and is up 6.61% since being rated a (5) Strong Buy.

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International Business Machines (IBM)

Eight weeks ago, we stated, "In general, odds favor being long." Price action held support at $182.00, and has been on a bullish tear ever since. For last six trading sessions, the stock has been consolidating within a bull flag, but the next day or two are critical. Time has almost run out, as IBM could retrace lower especially if confirmation of a daily close below $197.24 is posted. Look to book some profits to allocate lower. Algorithm Buy/Sell Rating: Rated a Buy for eight days, and is down -0.24% since being rated a (4) Buy.

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Intel (INTC)

UPDATE: Three weeks ago, as Intel was trading near $25.00, we stated, "Odds favor a retest of the $28.00 region at this juncture, but it will take considerable concerted buying. Also, $24.50 represents key support." Subsequently, the market held at the $25.00 area and even violated our resistance of $26.50 during the last few trading sessions. The 21- day moving average line is currently sloping positive. Critical near-term support is at Tuesday's close. Algorithm Buy/Sell Rating: Rated a Neutral for six days, and is down -0.45% since being rated a (3) Neutral

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To learn more about ChartLabPro's algorithm visit
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No positions in stocks mentioned.
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