Intel is forming a broadening trend. If it breaks through the resistance at ~47, it has the potential to reach a target of 52-56. Additionally, the candles remain above the 50 and 200 moving averages. We will see in the next couple weeks!
INTC difficult to count, because retracement above 0,618, where normally a wave b (red) terminates. Furthermore, this could be a finished wave a (grey). Wait until this stock will get a boost on Monday! If not, there would be more pot. for the downside. ST overbought.
STOP LOSS : 46.77
TAKE PROFIT : 42.56
Risk-reward : 2.17
Longer term trend: Sideways
Current trend: Bearish
General comments:
Bearish movements seen at the end of Jan-18 with recent low being around $42.5. Price then moved higher till current price whereby it faced strong resistance - a strong daily resistance which coincides with the 50% retracement of the...
My biggest worry about Semi stocks is the implosion from BTC. I have to wonder if the one day relief in BTC is misleading Semi stocks going forward. Sentiment is on a cliff. I know INTC is a great company but do we really want to go up against a changing sentiment in sector.
Both in the chart and in the RSI we've got a falling wedge which are now both leaning on an old resistance level , so it should be a firm support right now. Also, a critical fibonacci level is reached in the fourth elliot wave (which i haven't drawn down because it would become a messy chart). I'm hoping for a bounce to the .618 fibonacci extension - starting...
Both in the chart and in the RSI we've got a falling wedge which are now both leaning on an old resistance level, so it should be a firm support right now. Also, a critical fibonacci level is reached in the fourth elliot wave (which i haven't drawn down because it would become a messy chart). I'm hoping for a bounce to the .618 fibonacci extension - starting...
AI powered intel going to moon soon (tm)
ie soon in stocks might be a long time. could also break down and just not break 38 or whatever but I doubt that.
