wr - re:INTC, yeeesh, had to pull up a weekly chart.
Don't think the H&S is a proper one.
Multiple heads in Y2K look more like a rising wedge.
Taking the H&S hypothesis, I see an horizontal neckline 35ish which, in traditional measures would have a price target of minus $2 <vbg>
Your downsloping neckline is asking too much for a textbook H&S IMHO.
Many H&Sers now start to speak of percentages, so, new trend is neckline at 50% of price, tgt 50% below neckline, which would become 17.5. Which is met.
OTOH, on the same weekly, lower lows line from 2001 would be 12ish for the day (I first thought my data were bogus and that INTC made a 2:1 split in June <vbg>).
From July:
horizontal trading band $3.5 wide, broke Tuesday, target 12.5.
Ssssh! must redraw my line of lower lows.
Nope, $12 for around Sep 16 seems adequate.
BWTFDIK. |
