Don't Ignore This Chart

Intel Gaps Down to Lead Semis Lower

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Intel (INTC) weighed on the semiconductor group Thursday with a gap down and high volume decline. The chart below shows the stock reversing near broken support, which turned into resistance. This is classic technical analysis: broken support turns first resistance and broken resistance turns first support. 


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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