INTC psar bear signal

Intel (INTC), which manufactures the brains that power most of the computers in the world, is showing a psar bear signal, on a price decline today traversing 1.7% high to low.

INTC is in a sideways trend and has been since August 2009. The boundaries run from $21.50 down to around $19, which gives good room for directional plays as long as the trader realizes this is an oscillator, not a long-term trender.

The pattern also lends itself to iron condors, an options strategy that produces profit when the price stays within a range.

You are here:

•  Resistance
• $21.55, 6.2%
• $21.09, 3.9%
• Now $20.29
• Support
• $19.81, -2.4%
• $19.30, -4.9%
• $18.95, -6.6%
• $17.30,  -14.7%

It's not exactly a rabbit-hold below $17.30 (from the rabbit hole Alice fell into at the outset of her journey to Wonderland).

I would be tempted to take this as an iron condor if the April expiry were closer. The premium from an iron condor isn't too great for this issue, however. My preference, usually, is to stay fairly close to expiry if the premium is low, in order to keep my annualized return on the high side.

Abbreviations:
pps - Person's Proprietary Signal
ma20 - 20-day moving average
macd - Moving Average Convergence-Divergence
mfi - Money Flow Index
sto - Fast Stochastic