[INTC] breaks neckline, now back testing from below

Backlink.  Current chart below shows that breakdown has begun and the chart is now backtesting the neckline to see if it can break back out but I think we can just forget about that given the highly unusual recent earnings miss and downward guidance by the company for future earnings.

Intel will miss again in all key areas (revenue, profits) but the next time you will see Intel margins come under attack as well.  60% margins will fall to 45% IMO.  Why so hard?  Because Intel is nearly done with 1 of 3.  This implies that it will fall to about $28, perhaps bouce to $30 above the neckline again (if it's lucky) and then collapse below the neckline again during 3 of 3 down.  And that is best case.  Worst case, Intel is already entering 3 of 3 right now.