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Originally posted by New-born baby
Jack
INTL's ten yr chart shows a huge, six yr symmetrical triangle formation (or a three yr formation in red).
It will soon bust it, up or down. The implications will be huge for the
stock price.
In your judgment, what price target are you expecting for INTL?
And what time to achieve the target? Because the chart expects an $18 move off of the three yr. formation, and a whopping $38 move off of the ten yr. formation. Note that this chart is huge, so we are looking for a big move over perhaps a year plus.
At the present time, the daily is one very ugly chart (second chart).
One yr. Daily chart: note the gaps
INTL's ten yr chart shows a huge, six yr symmetrical triangle formation (or a three yr formation in red).
It will soon bust it, up or down. The implications will be huge for the
stock price.
In your judgment, what price target are you expecting for INTL?
And what time to achieve the target? Because the chart expects an $18 move off of the three yr. formation, and a whopping $38 move off of the ten yr. formation. Note that this chart is huge, so we are looking for a big move over perhaps a year plus.
At the present time, the daily is one very ugly chart (second chart).
One yr. Daily chart: note the gaps
As to the price target that I'm looking at, I have sold several blocks at 19.30, after a pullback from the 19.36 recent high of last week. I plan on dumping some more tomorrow if the stock climbs above 18.60. The 18.60 mark is incredibly important if TA holds any truth. The stock has challenged that level and failed 3 times before finally succeeding the 4th. Last Friday, the stock failed and closed below for the 5th time. I would say the next stop for INTC now is the obvious 18.06 level. But, this is all TA stuff that may or may not hold.
INTC is currenty being "event-driven". The anticipation of the upcoming July 19 earnings will play a significant role on how the stock trades in the next 11 days. I'm afraid that the rise from 17.35 to 19.36 was purely an earning-run-up. Were now decelerating, but we shall see a knee-jerk-pop 1 or 2 days before earnings.
Second quarter earnings will not be good. The price war that INTC has declared against AMD will be reflected in their 3rd Quarter guidance. Basically, the company with the most cash is going to win this war... and thereafter, we'll have some truce.
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