$INTC Missed the Trade, $RNG Nailed It, $BBY Stayed Disciplined

jfsrevg
07-31

This week's market offered another reminder that price structure, sector rotation, and market positioning often matter more than headline results.

From Intel's post-earnings weakness to RingCentral's technical breakout and Best Buy's disciplined trend-following setup, these trades highlight one key principle: the market rewards context, not just numbers.

1. $Intel(INTC)$

Price structure always takes precedence over earnings in trading.

Despite posting +520% EPS growth (+93% beat) and +25% revenue growth (+12% beat), the chart remains the primary source of truth.

$INTC basically already have a loosening structure prior for over 2 months.

2. $RingCentral(RNG)$

My 2 cents on $RNG:

$RNG belonged to 2 baskets: CRM and Software.

Both had positive weekly momentum, as money was rotating out of AI groups into Software, CRM, Cybersecurity, Heathcare, and Banks.

On top of that, $RNG is a mid-cap and the IWR/QQQ ratio had been outperforming for a while.

$RNG itself had its 10, 21 and 50MAs pinched going into earnings, and was still trading above its rising 200MA.

3. $Best Buy(BBY)$

Once an idea is executed, let its 10-MA dictate your exit, not the market.

$SPDR S&P 500 ETF Trust(SPY)$ -1.5%

$Invesco QQQ(QQQ)$ -2%

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