Intel is testing a 2.5 year trendline support and may be also trying to break down from a massive H&S top. The meeting of two major technical development is always interesting. That doesn't mean that the H&S top is guaranteed to work and produce a significant epic decline. Prices may recover and stay above the multi-year trendline and invalidate the H&S top interpretation. We have to avoid being obsessed with a certain outcome. Instead, we must accept the actual price action. Believe what we see, not what we want to believe.
Let's end with the daily chart of INTC:
Again, traders must focus on protecting our trading capital. We need not chase a breakout if it means risking more than prudent. There will always be other trader.
It's also interesting to consider the implications for the broader market should this H&S top interpretation prove correct. But remember, we must not get too attached to a particular interpretation. Focus on entering a trader at an advantageous spot that limits risk. If we miss a breakout, so be it. Let it go and confidently and calmly wait for the next attractive set-up.
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