Intel Daily Technical Analysis | 20 November 2017
2017-11-20 10:50 am | Resource: Technical Analysis Section | No Views : 288
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.
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
Shares on Wall Street began the first trading session of the week low after an attack on two facilities of Saudi Aramco, cutting the oil giant's production in half. The United States accuses Iran of being behind the attack, while Tehran has denied the allegations. It is reported that the incident will delay the initial public offering of Aramco. At the same time, more than 49,000 GM workers began a…
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