Monday, 21 September 2015

INTC - broadly bearish

With the main market closing moderately higher, Intel (INTC) was similarly on the rise, settling +0.5% @ $29.17. Broader price structure remains a giant H/S formation, and still bodes for $22s before a key floor is in.

INTC, daily

INTC, weekly


Little to add.

I am long term bullish INTC, but with the main market seemingly headed back under sp'1900 this October, INTC will surely resume lower.

I will be considering an INTC-short in a few days... and would likely hold into mid Oct'. I'd then consider switching LONG in the 24/22 zone.