CLIFF NOTES: INTC is on the move breaking thru and CLOSING (KEY) at the high end of the range, above a 9 year resistance line and now testing the higher end of the bearish resistance zone on the RSI. The base it has moved up from has carved out an inverse head and shoulders in addition to basing for 10+ years. Watch this stock for leadership.
GAMEPLAN is, however hard it is, to let this move go and then look to buy the “outside return” against the neckline around 28. Initial targets are shown …
Now, we need to ask ourselves, how is the stock doing against the NASDAQ? This is where we go to our ratio analysis and look at the picture below … banged right off the .786 retracement level and perhaps this is a rotational play by the institutions. What a nice picture …
