Intel price (INTC price as off this writing is $19.47) direction prediction using the power of the Candlestick Japanese Charting Techniques. Can the candlestick patterns help us answer the following question: Is the pullback of the Intel stock price that began on Jan 15, 2010 already at the bottom ?
1) Candlestick Japanese Bearish Continuation Pattern for Intel(NASDAQ:INTC)
From Jan 29 to Feb 04 2010, the Candlestick Japanese Charting of Intel(INTC) prices formed a Bearish Continuation Pattern that was unconfirmed the next trading day - Feb 05, 2010 - by the long bullish candle that closed higher than the previous day.
2) Candlestick Japanese Bullish Harami for (NASDAQ:INTC)
A Candlestick Japanese Bullish Harami - a Bullish Reversal Pattern, immediately follows the previous Candlestick Continuation Pattern.
3) Confirmation for the Bullish Harami
Because of the Candlestick divergence caused by the formation of a Bearish Continuation Pattern that is immediately negated the next day by a bullish harami in an oversold condition we can predict the start of an uptrend if the bullish signal is confirmed the next trading day.
That's to say if on the next trading day the price opens higher compared to the previous price and closes above the previous close then the bullish reversal pattern is confirmed