INTEL & MICROSOFT

If someone wants to start learning technical analysis, the first chapter should be chart patterns and the first chart pattern should be symmetrical triangles. Just seeing how the price bounces from one trend line to another would be enough to be amazed by the strength of this discipline. Imagine two converging trend lines and price consistently remains between the boundaries until a thrust occurs.

In this post I’m sharing an update on INTEL and MICROSOFT which I have analyzed in November(http://techcharts.wordpress.com/2011/11/10/intel-microsoft/).

Perfect symmetrical triangles are close to completion or already completed. Intel broke out of the triangle in October and Microsoft might be breaking out from its 2 year-long consolidation this week. Both stocks are giving bullish signals with Intel having a price target of 38 and Microsoft; 35.