The technicals are pointing towards 41-45$ in the next 2weeks..
3 things make me come to that conclusion.
1. Inverted hammer at the end of a downtrend with volume.
2. Retest of up trend from 19$ lows
3. 4hour Money flow and Macd went too oversold on the most recent pullback.. each time this has happened price has jumped 10% in the next 2weeks.
Bigger picture is this price smacked it's downtrend 2 weeks ago at 44. Until we close above 45 for the week then intc is still in a down trend. Over 45 and 51 comes
The smaller picture is what I will be trading in the next 2weeks
A good entry is around 36.50 or trendline support but you will be buying beneath the 20/50MA...
The best entry is above 38.50 which would be above the above moving averages and that 38.50 price action
My target here is 41.80-42.50
By the 2nd week of Jan... price could hit that target sooner if there is a Seasonality rally on tech.
Stop loss below 35.50
3 things make me come to that conclusion.
1. Inverted hammer at the end of a downtrend with volume.
2. Retest of up trend from 19$ lows
3. 4hour Money flow and Macd went too oversold on the most recent pullback.. each time this has happened price has jumped 10% in the next 2weeks.
Bigger picture is this price smacked it's downtrend 2 weeks ago at 44. Until we close above 45 for the week then intc is still in a down trend. Over 45 and 51 comes
The smaller picture is what I will be trading in the next 2weeks
A good entry is around 36.50 or trendline support but you will be buying beneath the 20/50MA...
The best entry is above 38.50 which would be above the above moving averages and that 38.50 price action
My target here is 41.80-42.50
By the 2nd week of Jan... price could hit that target sooner if there is a Seasonality rally on tech.
Stop loss below 35.50
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.