Wednesday, 17 June 2015

INTC - a third net daily gain

With US equity indexes closing somewhat mixed, Intel (INTC) was on the rise, settling +1.0% @ $31.94. Despite the third consecutive net daily gain, broader price structure remains a giant bearish H/S formation. First downside target remains the low $29s, with a grander bearish target of 26/25 in the late summer.

INTC, 60min

INTC, daily

INTC, weekly


Suffice to add from recent posts... 3 days of gains, but it sure doesn't negate the broader down trend since the start of the month.

The low $29s look due within the next few weeks.

*I have eyes on INTC as a near/mid term short into the late summer.