Intel (INTC) is making waves today with an attempt to break pennant resistance. Notice how the stock surged from 21 to 23.25 and then consolidated the last few weeks. A breakout would signal a continuation higher, but low volume detracts from today's move.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. 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 market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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