DW8 TA, page-138

Intel-Investor, my view on the direction of the SP is that it is down, based on my interpretation of the daily chart. Three black crows is never a portent of a quick reversal.

Whilst I note that has closed outside the lower bolly band any recovery is likely to be a short lived dead cat bounce. MACD, RSI and slow stochastic showing very oversold. However any overhead upward movement is very likely to be thwarted by the 8 day EMA currently sitting at .131. Is currently sitting on 61.8% Fib retracement.
Two scenarios likely to play out may bounce around between 12.6 -10.6 (50% 61.8% fib respectively)

If this fails to hold SP will be hunting the 200 MA. Which is very likely to coincide with .76.8% Fib.

I am not invested in this stock however, have been watching loosely when chart comes up in daily scans.

I have not undertaken any detailed research of the Company. So your assessment may be based on criteria of which I am unaware.

I have responded purely because you have requested an assessment of your analysis and the fact that the majority of my trading is from TA assessment.

I hope my view is accepted with this spirit in mind. I very much want to stress that this is my opinion only, not advice.

GLTAH

Charlie