Intel is using the weekly golden cross as a launchpad

Apr 30

We know the fundamental reasons why intel is taking off after The Trump administrations big investment in it last summer and most recently Trumps truth social posts bragging about it, but on a technical level we have two very bullish thing occuring right now as well. You can see here on the weekly chart that the really bullish impulse/pump in price action corresponded precisely with when the weekly golden cross occurred. Also just recently price has broken above the neckline of a cup and handle pattern. Should it validate the cup and handle breakout which seems likely at this point, the target for that breakout is around $387.17, which means there’s still lots of room left to run. From where price currently sits that would be another 310% gain to reach the full cup and handle breakout target. The weekly stoch rsi is in the overextended zone though so a correction perhaps even back down to retest the neckline as support in the near future before heading to such a price target is fairly probable. *not financial advice*

Apr 30

Note

One important thing to note here, I didn’t realize I had logarithmic mode turned on when originally charting this cup and handle pattern. As usual the linear charts breakout target is considerably smaller than the logarithmic version and in this case the breakout target for the cup and handle on the linear chart is showing a target of 125.29 . Usually both the linear target and logarithmic targets eventually get hit, it just takes much longer for the logarithmic targets to be reached. *not financial advice*

May 9

Note

The linear breakout target has already been hit and with quickness. Will be interesting to see whether it continues its non stop pump to try to hit the log chart target now or retraces since the linear target has been hit