INTC is going sideways since 2018. INTC reaching a nice support zone
With the recent downturn in tech stocks, INTC may poise for a short term rebound. Things to take note for downside risk: 1) This support zone is in the middle of the bigger sideway zone. so chances of winning 50:50. but it's a good time to collect some should there be a short term rebound and perhaps breaking new high due to increased demand in the global recovery. Otherwise, this trade could become a long term trade 2) May anormaly: Sell in May and go away
EP: now ($57.19) or within support zone. TP: $64.23 or $68.49
No stop loss: enter again when prices hit around $43.72 and ride the sideways market.
@Lextrading, Thank you for your comment. Yes, there is a gap at around 62. This gap has been filled up twice thereafter and this shows it is not that difficult to overcome it. I hope we could grab some INTC cheaply around Sep - Oct 2021 as we enter the "sell in may and go away" anomaly.