A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 30 white candles and 20 black candles for a net of 10 white candles.
A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 4 rising windows in the last 50 candles–this makes the current rising window even more bullish.
#Intel are surging Wednesday after the company said it would be replacing Swan with VMware Inc. Chief Executive Pat Gelsinger. Intel’s stock INTC is up nearly 8% in morning trading, while VMware shares are off 4%.
Intel said in a release that the announcement “is unrelated to Intel’s 2020 financial performance” and that the company expects to exceed its fourth-quarter revenue and earnings guidance.
Intel closed up 3.945 at 57.185. Volume was 129% above average (neutral) and Bollinger Bands were 46% wider than normal.
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the bullish or bearish trend reflected in the lower ribbon.
Summary
Intel gapped up today (bullish) on normal volume.
Possibility of a Runaway Gap which usually signifies a continuation of the trend.
Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
Intel is currently 7.0% above its 200-period moving average and is in an upward trend.
Volatility is extremely high when compared to the average volatility over the last 10 periods.
There is a good possibility that volatility will decrease and prices will stabilize in the near term.
Our volume indicators reflect volume flowing into and out of Intel at a relatively equal pace (neutral).
Our trend forecasting oscillators are currently bullish on Intel and have had this outlook for the last 6 periods.
Our momentum oscillator is currently indicating that Intel is currently in an overbought condition.
Overall, the bias in prices is: Upwards.
A big black candle occurred.
This is bearish, as prices closed significantly lower than they opened.
If the candle appears when prices are “high,” it may be the first sign of a top.
If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance.
Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles.
During the past 50 bars, there have been 30 white candles and 20 black candles for a net of 10 white candles.
A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow).
This usually implies a continuation of a bullish trend.
There have been 4 rising windows in the last 50 candles–this makes the current rising window even more bullish.
