There is no other explanation for today's stock price. After last nights report from Intel the stock would have taken off in a free market....but in this TOTALLY RIGGED market, the big players want in at lower prices not higher so she goes down.
No explanation? Sure there is. It was bid up all week in anticipation of yesterday's earnings. Were you asleep? You didn't notice? Ever heard of the concept overbought? Find another hobby. This one is too expensive for you.
stock was not overbought.up from 20.40 end of last year to thurs close of 21.48 is hardly overbought.thurs action was a little hot in anticipation but dont think anyone except a biased bear would call it overbought.
How do you figure this out? Monday Jan. 4th open was $20.79. Monday Jan. 11 open was $21.11. The high this week, was yesterday's close at $21.48, just 38 cents above the Monday's open. October 14, 2009 open was $21.26, just 22 cents below yesterday's close. In between all these dates was yesterday's blow out earnings report.
If you call a movement of 22 to 38 cents an overbought condition then we need to change the definition of overbought