intel - analysis - inside 💻

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📉 INTC has been overall bullish trading inside the rising wedge pattern in blue and it is currently approaching the lower bound / blue trendline.

Moreover, the 31-32 is a strong support zone.

🏹 So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline acting as a non-horizontal support.

📚 As per my trading style:
As INTC approaches the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Comment:

That was fast!

INTC rejected our purple rejection circle / zone and traded higher.

INTC is currently around the upper bound of the red channel.

For the bulls to remain in control, and take over from a long-term perspective, we need a break above 37.2.

Meanwhile, if INTC trades lower, we will be looking for new buy setups around the 32.0 support again