Intel Corp (INTC) : Bearish Cross

Last Thursday, Intel had a bearish cross, with Tenkan sen cutting Kijun sen on the Ichimoku Daily Chart.

On Friday close, it seems to be resisting the move downwards. This is further seen on the Weekly Chart.

On the Ichimoku Weekly Chart, we can see that there is strong  support from the kumo at around 18.60 for Intel.

With such a thick kumo support, it is still not a good indication to short it. I see possibility of a range bound play here.

2009Oct-Intel Corp-800x6002009Sep-Intel Corp-800x600_Weekly

By iam802

Trend trading with Ichimoku