climbing by 65 bps. The index was oversold last week, and this week, that is no longer the case. The index trades well above the lower Bollinger band, with an RSI of around 40.
We have now retraced about 61.8% of wave five down, and today’s rally looks like a pretty standard diagonal triangle, with the rally taking it around 4,200. Additionally, we filled a gap of around 4,190. So, from a technical standpoint, if we stopped rallying at these levels, it would make a lot of sense.The flip side is that there is also a gap at 4,250 that needs to be filled, and the 200-day moving average is up in that region.
Intel produced a solid quarter and raised guidance as turn-around momentum builds. Analysts applaud the results and see the stock as fairly valued to slightly undervalued. The...It’s been a dreadful past couple of years for the Russell 2000 and small-cap stocks. Only in 2009 have small caps performed worse over a 100-week period – point on...We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other.
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