Intel (INTC) – Breaking out from Symmetrical Triangle and Bullish!

Intel (INTC) is breaking out from a Symmetrical Triangle with increase in trading volume. This breakout is a bullish signal and also confirmed by the Technical Indicators. Price target is around $22.50.

Technical Indicators

  • Stock price above 20D, 50D and 200D MA.
  • MACD crossover and move into bullish convergence region.
  • RSI is going up.
  • Stochastic is going up.
  • Stock price is above Parabolic SAR line.
  • Stock price is at above Bollinger Band.

GS – Bullish Abandoned Baby Pattern Failure?

GS formed a Bullish Abandoned Baby (another name is Morning Doji Star) pattern a few days ago but the trend did not reverse to up trend. The trend will normally continue if there is a pattern failure, and the H&S formation remains valid for the time being.  I am watching closely whether GS will break the neckline and the support of $158.4. If these two supports are broken, GS will start a deep correction to about $138 level.