Intel CorporationShort
INTC 29.51: Potentially forms a head-&-shoulders top
INTC may be forming a head-&-shoulders top (as shown on the weekly chart). It is currently testing the 29.65/29.31 shoulders support line and reached a 29.09 low (July 8, 2015). A decisive breakdown here would complete a head-&-shoulders top and risk a deeper setback towards the 20.84 area (H&S target). However, if the 29.09/29.31/29.65 area manage to contain losses, that would suggest further consolidation towards 32.57 then 34.75.
Outlook:
Short term: bearish
Long term: neutral
Outlook:
Short term: bearish
Long term: neutral
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.