As much as Intel Corporation (NASDAQ:INTC) is a fantastic company that will be around for decades to come, one must be concerned with the weekly head and shoulder pattern break down in progress. A head and shoulder formation is a bearish pattern. The target can be calculated based on key factors and shows that within the next three months, Intel may see $14.00. Note the chart below showing the head and shoulders pattern and the neck line break down point. This is scary considering the stock has already been crushed and tells top Chief Market Strategists that if Intel goes to $14.00, the markets will be getting hammered as well.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
