Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 36.92

+3.1%

1:12 PM EST

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To: Gary Burton who wrote (56405)	5/31/1998 4:03:00 PM
From: Francis Chow	Read Replies (1) of 186894

<TA wise--there is an ominous Head and Shoulders top in place that counts down to the hi 40's as the ultimate destination> When I first started investing I thought TA was a bunch of cr*p. Now I'm not so sure. So I've been reading up on TA. I agree with the H&S pattern for Intel. Some of the TA articles on the H&S pattern suggest that once the neckline is breached, there is often a rally back to the neckline before the final fall. I identify Intel's neckline as $70 (do you agree?). Based on TA it should fall to around 60, recover to around 70, then fall to the high 40's. We'll see if this actually happens . . . (but that still doesn't explain why these patterns recur in stocks).

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