2% Regression Channel connecting the Oct 1998 high and the December 2004 high. Back up to top or down to bottom? DRT
DESCENDING WEDGE The descending wedge is the opposite of the ascending wedge. The two boundary lines move downward and the upper line has the steepest angle of descent. This formation will normally resolve upward because the steepest angle is usually the least sustainable. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1015189>
Nice to see that I'm not the only one seeing this chart pattern with INTC, I posted a very similar chart a bit earlier this evening (hadn't seen your post). <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1015194>
So, since we're both talking about INTC, may I ask what you would be looking for in terms of determining an entry point?