INTC Analysis for 10.14.2007

INTEL

Monthly chart shows big consolidation range - likely a complex flat. Last month's price action resulted in a doji right at the .618 fib level of the last large range down from $34.67. Current high of $27.81 also happens to be at the UB and the 89sma. So far, the monthly chart shows 1) 3 wave pattern up from $13.14 into $34.67 2) 3 wave pattern down from $34.67 into $16.50 and 3) 5 wave pattern up from $16.50 to $27.81 high -- result is currently a 3-3-5 wave pattern having been traced out.

Weekly chart shows possible 5 waves up into $27.79 high. Current price now below backend resistance.

Daily chart shows selling the last 2 trading days of the past week. While there was talk that there is evidence of rotation into technology stocks, the price action shows that this stock did not participate in it.