Monday, April 4, 2011

INTC

I've posted on INTC numerous times, this was the last from Thursday of last week...

I mentioned INTC may be a potential Put play to take a look at.

 INTC regional top is broken and kissed resistance goodbye. It's still close enough to make another attempt at resistance but the further down it moves, the less likely that outcome will be. Watch for a spike in volume for a potential bounce, it may make for a good tactical entry.

 Daily 3C of INTC, a double top-like pattern shows continued deterioration.

Here we see several false moves or failed breakouts. Again, a large volume spike would most likely indicate a bounce to relieve the oversold condition, which would potentially  provide a low risk/high probability entry on a short or a put. 

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