As with most stocks, INTC has been in a bearish trend beginning this year. Recently it has entered into a neat downward channel. Following the last test of the channel upper bound (denoted by the blue flag), a substantial decline occurred. This decline ended with a volume spike against the lower bound.
The last test of the lower bound (denoted by the green flag) is strikingly different than the previous. It lacked a volume spike and did not push the Stoch or MACD to new lows. In fact, during the latest retracement up, both indicators flashed signals of a bullish divergence.
It seems likely that this retracement following the latest lower bound will take us at least to the upper bound, if not break the channel.
The last test of the lower bound (denoted by the green flag) is strikingly different than the previous. It lacked a volume spike and did not push the Stoch or MACD to new lows. In fact, during the latest retracement up, both indicators flashed signals of a bullish divergence.
It seems likely that this retracement following the latest lower bound will take us at least to the upper bound, if not break the channel.
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Checkout my free weekly market updates on substack!
ronaldryninger.substack.com
ronaldryninger.substack.com
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.