Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: Petz who wrote (82407)	12/9/1999 2:31:00 AM
From: tejek	Read Replies (1) of 1583554

Chuck or others: How does Intel look technically now? RE <<<Its been trading in a pattern of lower highs and higher lows, isn't this called a "flag" pattern? Volume has been drying up significantly. Today it closed below its 50 day moving average. Will Intel soon be testing its 200 day M.A. at around 70?>>> Petz, since the end of August intc has had a downward bias. However in the last month, it has tried to break that bias with a short term uptrend. That short term uptrend was broken today by the gap down below the 50 day MA. If it's not reversed tomorrow, there is a very good chance intc will drop to 65-66 where it has strong support. If it is not stopped there, the stock has minor support at 55-56. Intc did not form a flag/pennant nor a triangle....those formations are much more pronounced. As for volume it was well above normal, suggesting that there probably will not be a reversal tomorrow......but who said TA was an exact science. ted

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