Don't Ignore This Chart

Intel Traces out Bear Flag after Gap

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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.

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Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com. He has written articles for numerous financial publications including Barrons and Stocks & Commodities magazine. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed technician. In addition to his CMT designation, Arthur holds an MBA from the Cass Business School at City University in London. Learn More
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