INTC trade post mortem

As I stated in a previous post, I got out of my stake in INTC this afternoon at 24.21. I had to go back to look at the chart again. Partly to study the trade again and partly also because I have a deeper relationship with the company.

Looking at the chart again, it looks like it is making a head and shoulder pattern. However the pattern will only be complete if the price break through the neckline ofcourse. But, it is also approaching resistance in terms of the 50 day moving average and the long term trendline. All in all, it seems to be a technically sound trade.

I will be back later with potential trades for tomorrow. Off to a soccer game now. Good luck1