Intel Daily Technical Analysis | 27 December 2017
2017-12-27 09:19 am | Resource: Technical Analysis Section | No Views : 305
Currently, the stock is still trading in a bullish direction over the interval of 240 minutes but the trend is seen from a weak position, and the quick simple move crosses positively with the slow moving average.
The failure of the stock to achieve the target of the descending rectangular flag pattern as a result of weakness of the buyers' resolve and if trading below the areas of 46.51 $, it will move to achieve the target of a negative (2B) model.
Its signal is neutral as the quick average of the intersection approaches the slow.
It is expected that, as long as the American stock is trading below $ 46.51, the stock may target 43 level on the other side, if the breach of 47.64 or the rebound from the upper border of the descending channel might target the areas of 49.46.
Support: 45.14 - 41.05 - 39.02
Resistance: 47.17- 48.04 - 49.01
US stock markets opened slightly lower in the Green Zone as investors awaited US President Donald Trump's speech at the New York Economic Club later in the day. He said earlier that Trump is expected to issue a "China-based statement" during the speech, possibly reflecting progress in trade negotiations between Washington and Beijing. A report released earlier today by the National Independent Business Federation (NFIB) revealed that the US Small…
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