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Friday, March 14, 2008

Intel Corporation (INTC) Technical analysis

Today we'll analyze the Stock INTC for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 20.77$ (02/27/08) to 19.87$ (03/06/08) a 0.90$ move
2- The current bullish trend started from 19.87$ at 03/06/08 and is currently trading at 21.28$.

3- The stock current support level is at 21.01 which is the 127.20% fibonacci retracement of the last 0.90$ move.
4- The stock current resistance level is at 21.33 which is the 161.80% fibonacci retracement of the last 0.90$ move.
5- The Stock formed Double Bottom Pattern at 19.87.
6- The Stock formed a 1.39$ height triangle which was broken up at 21.2 in higher than usual volume, target of the pattern is 22.59.
7- According to ADX, the trend is currently bullish,which is becoming weaker.

Conclusion:
INTC is currently trading a bullish wave, which is becoming weaker .
Technical indicators and chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy .

Resistance Levels: 21.33, 22.59.
Support Levels: 21.01, 20.95, 20.77, 20.74, 20.58, 20.43, 20.41, 20.32, 20.23, 20.21, 20.08, 19.94, 19.90, 19.87, 19.87,.


That's all for today ... thanks for reading the post,
come back soon for more updates,
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enjoy your online market trading!!
have a nice day,

Shadi
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Google
 

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Shadi