Don't Ignore This Chart

« Previous Article | Top | Next Article »

Intel Traces out Bear Flag after Gap

Intel (INTC) recorded a 52-week low in mid November and bounced with the rest of the market over the next two months. This bounce abruptly ended with a gap down to the mid November trend line. With a feeble rise the last few weeks, Intel formed a bear flag and a break below flag support would signal a continuation lower. Notice that Aroon already crossed bearish and this could foreshadow a test of the mid November low.

130206intc
Click this image for a live chart

« Previous Article | Top | Next Article »