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Home>UPDATE: A breakout in this cheap, forgotten stock is powering the Dow Jones Industrial Average

UPDATE: A breakout in this cheap, forgotten stock is powering the Dow Jones Industrial Average

UPDATE: A breakout in this cheap, forgotten stock is powering the Dow Jones Industrial Average

10/06/2017

By Nigam Arora

Money managers have deployed new cash in a dinosaur that had been left for dead

At the end of September, we shared with subscribers of The Arora Report our forecast that the stock market would rise at the beginning of October.

The forecast has proven to be correct, yet it wasn't rocket science. It was based on a simple observation that new money pours into Wall Street at the beginning of a quarter from pension funds.

And it turns out that money managers have deployed the new money in a dinosaur that had been left for dead. The dinosaur is chipmaker Intel (INTC). It turns out that the breakout in Intel's stock is powering the Dow Jones Industrial Average . Let's explore that investment starting with a chart.

Chart

Please click here (https://thearorareport.com/chart-intel-stock-breakout-10032017) for a larger annotated chart of Intel's stock. Please note the following from the chart:

-- This is a weekly chart and, thus, is of more value in analyzing a breakout.

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