Discussion in 'Technical Analysis' started by ZZZzzzzzzz, Dec 23, 2005.
what is your point
Is it going to go down is it going to go higher -??
a chart with prices and some lines...
and in case your screen is dusty, you can download and save the same chart to see after you clean it!!
That chart is classical technical analysis.
The signals are confussed for a trade. The 50 crossing the 200 is circled and the volumn has a line showing declining volumn. The triangle is nearing the apex.
Looks like the mkt is in a sideways "no mans land" area.
I would pass on intel as per the chart. ......
So if INTC's 50 does cross the 200, and we break to the upside of the pennant triangle on increasing volume....then what do you do?
Equally, if INTC's 50 fails to cross the 200, and we break to the downside of the pennant triangle on increasing volume....then what do you do?
I would boldly venture a guess that INTC does not continue to trade sideways in such a narrow price range for too much longer, and when it does break in a direction, the move will likely be for at least a couple of points, and perhaps quite quickly.
No direction and no current momentum is not a condition that tends to last too long with INTC.
I was one of those who criticized Z charts and prolly wrongly so: anyone can make his/her own mind about direction and although I wouldn't pay too much attention at vols because during the Xmas period trading slows down considerably, when I look at other indicators I can see the stock has a good chance of reaching $27 and change, or break down towards the $25 area.
I was just commenting on the chart posted. Do not trade stocks but just off the top of the head: Intel has been stuck with product developments slowing and production problems from heat and voltage leaking in the PC chips. I would venture to say that the PC mkt (desktops and laptops) has become a commodity item, thus they are just getting replacement sales. Intel depended far to long on mainly the pc chips. They might trade in a narrow range for a long time unless they break some new ground. But again, i do not follow stocks so do not follow my thoughts.
When i did follow stocks, the BIBLE was "VALUE LINE", i do not know if it is as good as it was a few years ago but i made money with Value line.......
if one has patience, stocks are neat to trade , but "NOT" for day trading.
PS, is value line any good these days?
Bitstream..... but is a trade up to 27 worth the effort? This is why i prefer to trade breakouts rather than ranges..On the chart posted, it looks like a BREAKOUT above 28.25 could be interesting, but then again that would depend on where the next resist level is...and as stated, the fundamentals as they stand now do not see things changing.
I think is worth waiting to see if those averages cross or not and play direction with a tight stp: 4%+ is a good return and it is likely to be achieved in two or three weeks max if the move is up.
On the fundamental side earnings season kicks off in early January and the stock is bound to move one way of the other when numbers are released.
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