Intel Battles Gap and Relative Performance

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

Intel is having a tough time this year. In fact, Intel (INTC) has been having a tough time since early December. The stock peaked around 37.5 in early December, formed a series of lower highs into mid January and then gapped down in late January. This gap-plunge broke support and the break is holding as broken support turns resistance. The February bounce formed a rising flag and a break below 33.5 would signal a continuation lower. The indicator window shows the price relative (INTC:SPY ratio) breaking down in late January and hitting a multi-month low this week.


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Arthur Hill
About The Author:

Arthur is the Chief Technical Strategist at TrendInvestorPro. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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