Description
⋅ Technical Analysis
- INTC breaking out of a consolidation channel after its drop due to disappointing earnings.
- RSI confirming breakout; at 62.
- Intraday volume is above its 10sma average.
- 200sma lining-up with previous tested support. Breaking this resistance, would take us into next parallel channel.
Attractive risk-reward-ratio at 2.5, placing a stop-loss just below channel top, and profit-exit around the 200sma.