Friday, October 2, 2015

[INTC] update

Model from the backlink is below.




Current snapshot continues to suggest that an expanded flat is finished or very nearly so.  The prior small peak was just short of the level of the prior 4th and it would have created a wedge channel.  All the few days of stalling did for Intel was to bring the shares to an even stronger resistance level and push the channel so that it is parallel.  A gap up on Monday would indicate I have misread this and then shorts should worry about an inverted head and shoulders.  I don't see that as likely but nobody knows the future for a certainty.  All we get is odds so don't overplay any given hand.

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