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.