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Technology Stocks : Intel Corporation (INTC)

INTC 45.51

+10.7%

Jan 9 3:59 PM EST

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To: K. Bloomquist who wrote (40658)	11/19/1997 12:56:00 PM
From: Chip Anderson	Read Replies (3) of 186894

Re: Candlesticks - Bullish or Bearish I can't find any candlestick references that support your interpretation of the current pattern. Here's what I found: The two candles from Friday and Monday are white bodies with a gap between them (79.125-79.50). This is classically interpreted as a "Rising Window" and usually preceeds a selloff to the gap (which provides support). This is very close to what happened. On Tuesday, Intel closed lower at 78.75, just below the gap. The only classical pattern that matches the Friday, Monday, Tuesday group is the "Black Body" pattern for just Tuesday. A one-day pattern is a pretty weak indicator. Even so, a black body is traditionally interpreted as a bearish signal. If we stretch a little and combine the Thursday and Friday bars, we then have a pattern very similar the "Evening Star" pattern which is interpreted as a major top reversal pattern - again bearish. My point is that none of the classical candlestick interpretations lead to a near-term bullish indication or continuation pattern. Am I missing anything? Chip

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