Thursday, July 23, 2015

Intel: increasing weakness amid a potentially massive top

Here is Intel's chart:

Prices have closed below the neckline of a possible H&S top. Caution seems appropriate for both longs and shorts. If we are long in Intel shares, we have to consider the possibility that a big topping pattern has been triggered. If we are short or looking to short, then we can't be overconfident because prices may close above the neckline in a hard retest. And, of course, every pattern can fail and change into something else.

No comments:

Post a Comment