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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (11520)	2/10/2001 11:39:50 AM
From: TechTrader42	Read Replies (1) \| Respond to of 12039

To add some indicators to the mix: From the point of view of MACD 13/34/89 and 13/34/5 in the daily chart, it's in a downtrend. It's broken through the middle Bollinger band and could head back toward the lower band at 30 (the mid-January low). It's also fallen through the 50 SMA (and the volume-weighted MA in eSignal). There are various other levels of support between here and 30, based on past support levels, but if things get rough, it could hit 30.

To: Michael Watkins who wrote (11520)	2/10/2001 12:32:25 PM
From: Trader X	Respond to of 12039

RE INTC I see what you mean on the weekly. But my basic assumption is drawn from the daily price pattern while the weekly MACD divergence was just something I noticed from your weekly chart. The price pattern, if this is a head/shoulders reversal forming, shows that the right shoulder could drop as low as $31 1/2 and still be considered part of the pattern development. The neckline is at $38. The shooting star you mentioned was stopped by the neckline, which is higher than the lowest line you have drawn. Volume seems to support my idea with peaks located at the left shoulder and the Jan. low (head) at $30. Just something to watch, since INTC is a bell weather, and there may be a long trade if it pans out this way.