Hi guys,
Short story on Intel is that this is not a big shorting opportunity. Rather it is a corrective move within an upward trend.
At 46-48 Intel becomes a good buy for a long term hold of 60-90.
Kind Regards,
BeatingWS
Hi guys,
We are saw a significant price drop in major stock indexes like nasdaq, S&P and dow jones. Many people are preparing to short these stocks (which could be a viable option), but elliot wave suggests this might be only a temporary opportunity as the market is likely to rebound and make a new top before a lasting drop.
This chart can be viewed as a signal...
We the recent gap down sell off in the $QQQ , Intel appears to be holding itself up relatively well. This is indicating bullish signals and I would like to play this one on the long side (with the assumption that broader market environments will improve!).
INTC seems forming a double top formation with strong negative money flow divergence. We think it provides a nice option trading opportunity, and we would consider July $44 Puts Currently $1.30
* Trade Criteria *
Date First Found- February 28, 2018
Pattern/Why- Possible double top formation
Entry Criteria- $44 July Puts @ $1.30 (Hit March 1, 2018)
Exit...
I'm 'hodling' $INTC, my average cost basis is quite good here, so I can afford letthing this winner run. I think we could be in the presence of a huge weekly uptrend but we need to break above the overhead resistance zone before having more confidence in this scenario. For now, I'd reccomend caution and only holding up to 10% of your portfolio in it if...
We have immediate resistance at 50.84, passing this level unlocks the upside, and with support of good fundamentals price can reach 60 in the following 2-3 months. Today price up 2% so far.
when the triangle is going up it continues in that pattern, The only problem here is that it is at the high and that
bottom is it's range as well, but this bull market is not ending right now.
