October 26, 2009

Intel Hits Support Zone

By Arthur Hill

After a decline the last eight days, Intel (INTC) is showing signs of firmness near a support zone. First, notice that the decline retraced 62% of the prior advance. Second, notice that broken resistance turns into support. Third, notice that MACD has a bullish divergence working. A break above 20.5 would reverse the eight day downtrend. 

091026intc
Click this chart for details.

Comments

The comments to this entry are closed.

About D.I.T.C!

This blog contains charts that we think are 'interesting' from a technical analysis perspective. These charts are presented for educational purposes only. We are not making any buy or sell recommendations here. Terms of Service


 
Advertisement: