Bullishcharts

$INTC Intel has Found Some Support

Long
NASDAQ:INTC   INTEL CORP

We are all very aware of the problems that INTC has had in the previous quarter which resulted in
a horrific selloff post earnings , but maybe its time to start going through the wreckage.
On the weekly chart we can see some positive signals.
- Found support on Point of Control (POC)
- 200 MA as support, holding for 5 years
- Symmetry with previous seff-offs.
- Deep 0.786 Fibonacci support on daily
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Comments

it is better to not touch this stock for a while
Reply
On the 1 year daily chart; There is a similar formation/ pattern back from 04/26/19 to 05/28/2019 with support @$42.75 yet a previous unfilled gap on 10/26/2017 @ $41.65 which may act as a support. I would wait for a confirmation with a (wide) double down and high volume coming in suggested @ $39.95-40 to go long on it. Stock on the short term will surely bounce up a couple of times to form a channel first.
Reply
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