$INTC Diamond Top pattern, negative divergence MACDLooking at $INTC recently they were hit with the news of losing a patent and being fined 2.5bn. The news itself are bad to begin with but looking more in depth I see:
-Diamond top pattern forming on the daily, it looks just as good on the weekly.
-Buying volume has been decreasing while selling volume is increasing even while it was moving up
-MACD is in negative divergence in the daily
Going to be looking at one level at a time but for the measured move of the Diamond top is nearly 20% I doubt it can be reached since there could be any catalysts that could help bring the price up. TA is not exempt from news
Once $INTC breaks below $60 the downtrend can begin to hit the following TPs:
1)$58
2)$55.83
3)$53.9
4) for the movement to be fully completed $INTC would reach near $49
-Focusing of course one level at a time analyzing price action and keeping an eye out for any news that could help keep its current valuation NASDAQ:INTC
