Medium term rebound

21 февр. 2013 г.

While point and figure charting has largely fallen out of fashion; I find it quite useful to identify trends during complicated markets. Obviously intel had a great run up before earnings, displaying a full catapult. After earnings intel fell rather quickly, yet its fall was broken by its lower trend-line. For now I believe Intel is simply consolidating before its next upward movement. This being said, should intel break its trendline and fall below 19.15 I would find myself becoming quite bearish.