Neurobroker
02-03-2005, 04:03 PM
INTC reshaped a bearish Descending Triangle pattern into a bullish Falling Wedge pattern on the daily chart. The forming Falling Wedge pattern is marked with two thin black lines.
To see the previous INTC article click here: Go!
The falling wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. The Falling(Descending) Wedge pattern is generally considered to be a bullish reversal pattern and is usually found in downtrends. The Rising Wedge pattern is marked with red and green trend-lines on weekly and daily charts. Normally the volume should increase significantly at the break out point. The direction of the trend depends mostly on the direction of the break out; and if the Falling Wedge pattern fails, down trend will persist.
http://www.neurobroker.com/StockAnalysis/Charts/2005/2/2/INTC%201.jpg
See more articles at Neurobroker.com (http://http://www.neurobroker.com/StockAnalysis/ListStockAnalysis.aspx )
To see the previous INTC article click here: Go!
The falling wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. The Falling(Descending) Wedge pattern is generally considered to be a bullish reversal pattern and is usually found in downtrends. The Rising Wedge pattern is marked with red and green trend-lines on weekly and daily charts. Normally the volume should increase significantly at the break out point. The direction of the trend depends mostly on the direction of the break out; and if the Falling Wedge pattern fails, down trend will persist.
http://www.neurobroker.com/StockAnalysis/Charts/2005/2/2/INTC%201.jpg
See more articles at Neurobroker.com (http://http://www.neurobroker.com/StockAnalysis/ListStockAnalysis.aspx )