Intel Corp INTC has a base and breakout pattern

860 14 16
Despite the horrendous September for the stock market, INTC             is making new 2-month highs.

It is also tracing out a pattern that technicians love to see, it is called a Head & Shoulders pattern.

The interesting point is that this bottom follows on the heels of a H&S top pattern that completed this past summer.

Which one will win? The top pattern or the bottom pattern?

My sense is to go with the latest pattern and go with INTC             long here. Buy here, buy down to $29 and buy any new highs after a pullback and target $34 to $35 in the next 1-3 months. Stop loss 27.


3:01PM EST 9/30/2015
Trade closed: target reached: Very nice move in very fast time.
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You first talked about this 22 days ago......got in then (29.91) .......was thinking it was about to hit some stiff resistance.......time will tell
+1 Reply
Excellent !
So good...
The rally was spectacular
timwest timwest
I measured the H&S from the KEY EARNINGS LEVEL from September. You can see how the volume across the whole pattern centered on 29, so that was the key level from a volume perspective. If you use TIME@MODE, you'll see that the trading range around the 29 level gave you a 2.25 points measuring box to work with (the bright green box). The rally has been almost 2 of those boxes, which is a spectacular rally. The latest EPS triangle is near 32 and set up another rally that you are seeing here. There are so many interesting points to make about the INTC chart here - The Time@Mode signals and measurements are at their measured targets in terms of time and price right here. I'll make a new chart and show it all... If you want me to....
+1 Reply
2use timwest
Vote up for a new chart!
+1 Reply
G13Man timwest
your exit was great @ resistance & near the down trend i pointed out above Great trade!!
+1 Reply
Nice - great team-work.
but the upside might be limited
for more ideas on the limited upside , extend the down trend blue line to the previous top
which is another chart to worry over into the 2016 year
ps , i did not notice the reverse H&S , thanks
+1 Reply
2use G13Man
10% is still a good gain
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