INTEL & MICROSOFT

Symmetrical triangle is one of the common technical chart pattern that we see on almost every time frame on a price chart. It is easy to spot on a price chart and usually followed as a continuation pattern (consolidation before the trend resumes). The two charts above analyze similar symmetrical triangle patterns on Intel and Microsoft. Intel has breached above the upper boundary of the consolidation while Microsoft is still below the upper boundary. After these type of breakouts we would like to see price holding above the previously broken support/resistance level. Resistance should become support. In this case Intel should not fall below 23.60 level. If Intel holds above 23.60 in the next few weeks we will expect the price to reach 28 levels and Microsoft to follow the same pattern and breakout from the consolidation range. in the short-term both charts have neutral/positive technical outlook.