Intel Corp (INTC) –Death Cross? – The chip maker just captured its 6th consecutive losing session yesterday to slip into bearish territory for the 1st time in 2 years. An 18 year high of $57.08 was tapped on June 1st before plummeting over 20% since. INTC became the Dow’s worst performer on Tuesday with a 3% setback. Others in the space are experiencing similar weakness as of late despite robust economic growth being touted overall.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
No comments:
Post a Comment