INTC to build more plants with government handout LONG
INTC is shown here on a monthly chart. Unlike several of its peers, it is quite a bit below the
ATH which is drawn onto the chart at a price of 63. The candles just printed a bull flag in the
past year with consolidation at present meaning INTC has been range-bound for two months.
The news catalyst is that INTC is building more manufacturing locations here in the USA
thanks to the Biden administration awarding from the CHIPS & Science Act of 2022 a
11B
grant
and a 8B loan to help INTC along with its growth plans. Earnings reports are one thing,
boots on the ground are another. INTC has no worries about interest rates strangling growth.
The fed has its back.
INTC is above the long-term anchored VWAP and has 50% upside to its ATH. Given both
the price action and the news stimulus, it is a strong buy IMO. I will buy a strong position
now and average in extra pieces all on a 180-360 minute term frame to hunt for micro-dips
for optimal entries. I can see an INTC plant only 40 miles from my current location. There
are giant cranes on the large site which is about a quarter mile. That is my real life
validation for my idea here.
ATH which is drawn onto the chart at a price of 63. The candles just printed a bull flag in the
past year with consolidation at present meaning INTC has been range-bound for two months.
The news catalyst is that INTC is building more manufacturing locations here in the USA
thanks to the Biden administration awarding from the CHIPS & Science Act of 2022 a
11B
grant and a 8B loan to help INTC along with its growth plans. Earnings reports are one thing,
boots on the ground are another. INTC has no worries about interest rates strangling growth.
The fed has its back.
INTC is above the long-term anchored VWAP and has 50% upside to its ATH. Given both
the price action and the news stimulus, it is a strong buy IMO. I will buy a strong position
now and average in extra pieces all on a 180-360 minute term frame to hunt for micro-dips
for optimal entries. I can see an INTC plant only 40 miles from my current location. There
are giant cranes on the large site which is about a quarter mile. That is my real life
validation for my idea here.
Comment:
Price had a good upside move today with more forecasted by the algo. Trade is risk free and break even is 2% above breakeven. Looking for more. Patient.
