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Intel Daily Technical Analysis | 20 November 2017

2017-11-20 10:50 am | Resource: Technical Analysis Section | No Views : 288

Intel shares broke the trend line on Friday, as traders pressured the US stock.
Currently, the electronics is trading in a bearish direction, and the SMA has crossed negatively with the slow moving average and the trend has been reversed with a break of 45.1.

Intel Daily Technical Analysis | 20 November 2017

From the previous chart, we notice a break of the lower leg of a classical symmetrical triangle pattern.
Momentum Rate of Change Break the secondary bullish trend line as it is trading in a bearish direction on the hourly time frame.
It is expected that as long as the American stock is trading below the lower leg of a symmetrical triangle pattern, the stock might target 42.19 level on the other side.
Support: 43.84 - 41.05 - 39.02
Resistance: 45.14, 47.17, 48.04
Trend: Down


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