INTC is inside the Waiting Room for Bullish Action
Current Idea: Neutral
Important Price Point:
Current Stop Loss: $ 29.29
Lowest Support: $ 24.87
Resistance: $ 33.84
1st Price Target: $ 36.60
2nd Price Target: $ 46.54
3rd Price Target: $ 53.13
OVERALL VIEW:
Scenarios:
The Price Gap of $30.93 - $31.10 has been a fortress lasting 7 months.
A breakout occurs on W4 March 2023 until the last swing high at $33.84.
A short-term correction was stopped by Earning Reports last Thursday.
A new price gap occurs between $ 29.95 - $ 30.81.
Pay attention to the $ 29.29 - $ 29.95 area for the current best entry level.
$ 29.29 is coming from the Weekly Conversion and Base Line (Ichimoku Cloud) value which holding on as support since 20 March 2023.
Weekly Ichimoku Cloud is still in a bearish bias, but the daily has been in and out - above and below the cloud consolidating.
I believe accumulation is in progress right now.
Current Idea: Neutral
Important Price Point:
Current Stop Loss: $ 29.29
Lowest Support: $ 24.87
Resistance: $ 33.84
1st Price Target: $ 36.60
2nd Price Target: $ 46.54
3rd Price Target: $ 53.13
OVERALL VIEW:
Scenarios:
The Price Gap of $30.93 - $31.10 has been a fortress lasting 7 months.
A breakout occurs on W4 March 2023 until the last swing high at $33.84.
A short-term correction was stopped by Earning Reports last Thursday.
A new price gap occurs between $ 29.95 - $ 30.81.
Pay attention to the $ 29.29 - $ 29.95 area for the current best entry level.
$ 29.29 is coming from the Weekly Conversion and Base Line (Ichimoku Cloud) value which holding on as support since 20 March 2023.
Weekly Ichimoku Cloud is still in a bearish bias, but the daily has been in and out - above and below the cloud consolidating.
I believe accumulation is in progress right now.