- First chart is the Weekly time frame with Fibonacci levels for the rise from $13.61 TO $27.74.
- Price is trading at 78.6% for the above mentioned range. Week candle has given a DOJI at 78.6% Fib level.
- Next chart shows a previous resistance turning as support scenario. Current week closing has acted as resistance previously and price is closer to the channel support line. So this confluence of support may give a bounce.
- Third chart shows MACD positive divergence which can help the stock to bounce.
- And if all the reasons fail stock may start to go down again so one should put a tight stop loss below 16.59 level.
- INTEL CHART ANALYSIS
April 22, 2011
- In weekly chart price is moving towards the resistance line which is between 22 and 23.
- Stochastic indicator has just turned up from oversold level, If resistance line gets broken we can see further upsides for the stock.
- Daily time frame shows a gap in chart which is negative for the bulls. But price is above 50 and 200 day moving averages Sustaining above this important for the bulls.
- THREE REASONS TO GO LONG IN CISCO
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