ZZZ 7 ; The whole semi sector has frequently some good long term downtrends; and good short term downtrends lately . INTC could use some more sell volume. Hope this helps.
Not to be rude but I dont give that hammer much weight. A hammer after a nice sloping downtrend with some volume is something to take note of. Granted we had a nice down day on friday with some decent volume and not much of a wick on each end; so most likely well go down some more. If you take a look at the 60 min chart it brings up a interesting picture - that being we closed on friday at some support (ie trendline) I would think well stop for a bit where we are at and head to 25~ but we are at a slight impass here ie may need to retrace a little before doing so.