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Serge Berger is looking to buy Intel stock after US and European stock markets broadly passed the test of the first September week. Last week was eventful and contained both ECB interest rate cuts and US jobs data, which caused some intraday volatility.

Semiconductor and transportation stocks acted well, a good sign for giant chip maker Intel. After July earning reports the stock rallied but then consolidated. For the past two weeks the stock has churned below resistance which could to a break higher soon, according to Serge.