Picture's worth a 1000 words -- INTC
Buzz & Banter had 3 inputs about INTC already this morning so I thought I'd give ya a picture of what we're talkin' 'bout.
As you can see it has formed a Double Top w/ Handle. The 200-day MA is right below at $27.85, but major LT (Long Term) support isn't until $23.50. You can see this on the LT (5-year) chart below. This is where you'll see the Floors and Ceilings.
Floors and Ceilings refer to support and resistance areas. Many times after a stock has a breakout it will come back to retest the same area that it broke out from (that's not to say it will).
On a side note - you'll also see on the 5-year chart this completes a Double Top and Stochastic Divergence (SD).
Until next time...
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