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Intel Corp (Extended Hours)

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INTC trade ideas

intc weekly for naorzthe green line will be first support if the current double bottom fails. the green line is very weak, there are not many price pivots supporting from underneath compared with the strength of the black line. the blue line is strong too. these are either months to a year away or indicating another crash scenario like march. the chart is setting up as lower highs and lower lows. intc is in a bear market. you want to catch the bear market rallies and stand aside at resistance levels or short it. earnings releases are more likely to be negative for a while going forward until/unless they reinvent themselves. another way to look at this is: any good rally from here simply adds a right shoulder to an ugly potential pattern. use the current price red dotted line as a neckline and what pattern do you see? im not a big fan of that pattern playing out, but its a warning and it certainly could. the target would be one of either the black or the blue line, so more signs pointing downward, not upward.
NASDAQ:INTC
by sunriselmi