Intel Corporation designs, manufactures, and sells integrated digital
technology platforms worldwide. It operates through PC Client Group,
Data Center Group, Internet of Things Group, Mobile and Communications
Group, Software and Services, and All Other segments. The company’s
platforms are used in various computing applications comprising
notebooks, desktops, servers, tablets, smartphones, wireless and wired
connectivity products, wearables, transportation systems, and retail
devices. It offers microprocessors that processes system data and
controls other devices in the system; chipsets, which send data between
the microprocessor and input, display, and storage devices, such as
keyboard, mouse, monitor, hard drive or solid-state drive, and optical
disc drives; system-on-chip products that integrate its central
processing units with other system components onto a single chip; and
wired network connectivity products.
Take a look at the 2-year chart of Intel (Nasdaq: INTC) below with my added notations:
Over the past year INTC has created a key trendline of support
(green) at $29. That line is also the “neckline” for the stock’s head
and shoulders (H&S) reversal pattern. Above the neckline you will
notice the H&S pattern itself (red). Confirmation of the H&S
would occur if INTC breaks its support, lower prices would be expected
from there.
The Tale of the Tape: INTC has formed a head &
shoulders pattern. A long trade could be made at $29 with a stop placed
below that level, but ideally, the pattern implies a short trade to be
entered on a break below that level instead.
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