The overall market flow of the major trend is up.
Within the minor pitchfork, we see that price has tried to reach the mini median line but it retraced on tested the previous high of 18.01.2013. From then, it tested on the upsloping major median line (ML).
We expect price will dance along the upsloping ML with target indicated by the purple trendline a.k.a....
Intel is preparing for a breakout of the upward trending channel. Previous gap fill and moving average crossovers indicate to me a push towards $22.00 as their earnings are released on 4/16/2013.
My Price Target is set long at $24.00
While point and figure charting has largely fallen out of fashion; I find it quite useful to identify trends during complicated markets. Obviously intel had a great run up before earnings, displaying a full catapult. After earnings intel fell rather quickly, yet its fall was broken by its lower trend-line. For now I believe Intel is simply consolidating before...
nice reversal for many reasons on low volume... the bottom of a 5 wave decline. the symmetry of wave i and v are great...wait for confirmation above the trendline and go long...
Here is a longer-term view of INTC and the accumulation pattern that it has been in. The lows are higher and the highs are higher, which is a simple way to say the trend is up for INTC. Recent weaker than expected announcements from the company have softened the price of INTC shares, but they still have room to fall to reach the "value buyers" which have been...
