Very Simple Chart Patterns Showing Downward Intel Movement

The ongoing trade-war with China is proving unfruitful for most tech assets, especially chip/semiconductor suppliers, including QCOM and INTC . Aside from these fundamental negatives, the hourly chart reveals several very simple, basic patterns that provide further confirmation of such bearish sentiment. There are two consolidation-breakout points, both leading to major gaps and spikes in short volume. The death cross, in between, is the cross of the 65-period Exponential Moving Average under the 200, a very strong sell signal. Additionally, the unusually large number of gaps is a sign of volatility and growth-instability.

Traders and investors alike are bearish on INTC due not only to fundamentals but the simple technical indicators and patterns shown on the hourly chart.