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Strategies & Market Trends : LastShadow's Position Trading

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To: Teresa Lo who wrote (22936)	10/13/1999 2:11:00 AM
From: Teresa Lo	Read Replies (2) of 43080

INTC - Chart and Technicals After the market closed Intel (INTC) delivered earnings two cents shy of expectations. Note the uptrend on the daily chart had been broken in early September and, over the past two weeks, had formed a classic bear flag consolidation pattern at resistance at the 20-day EMA and 50-day MA. Yesterday's trading volume was unusually large and produced a Japanese candlestick named "spinning top", on a lower close, which was a negative going into the announcement. It was interesting how television announcers could hardly believe their eyes when the numbers came out, but the chart had been pointing down for sometime, scoring another point for the old saw of the technician that "price and volume never lie". intelligentspeculator.com

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