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Technology Stocks : INTEL TRADER
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To: Berney who wrote (2979)6/4/1998 10:51:00 AM
From: Olu Emuleomo  Read Replies (3) of 11051
 
Berney,
Yup! That's a clear H&S formation we have in INTC. I did a 5 year chart yesterday and I almost fell out of my chair. Needless to say, I sold my INTC at the market this morning.
INTC will surely trade below $60 before the end of July.
The neckline is at $72 and the top of the head is at $102.
Does this mean we will trade down to $42? Well, the 200week EMA is at $57. I think we will at least trade down to that level! Ouch!!

--Olu E.
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