Intersil Corp. (NASDAQ:ISIL) is declining sharply after reporting earnings. Forecasts for the first quarter by the company are well below analyst estimates and this is sending the stock lower by $1.48 to $13.51 a share today. This is a 10.0 percent decline in a single trading day. Traders should watch the $12.90 area for intra-day support. This is where aggressive scalp traders can look for an intra-day bounce in the stock.
Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.