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Berger: Why I am selling Intel

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Steady Trader Serge Berger is looking to sell short Intel stock. The Nasdaq fell 1% on Friday after a weak forecast from Micron Technology dragged chipmakers down including Intel.

In addition to bad news from Micron, Berger says that charts show Intel on Friday came close to breaking recent lows, when the stock fell 3%.

He is looking to sell at USD 31 with a target at 29.50 and stop at 31.80.