Short

Intel - (Much) Lower from here!

Updated

is about to create such a massive higher timeframe candle - a drop is immanent!

Within one month, a setup played out and we are back to beginning. During the past 30 days, Intel rejected the support towards the upside with a move of +25% and immediately reversed the entire move. The monthly candle will close so bearish, I do expect a break below the current short term support, followed by a retest of the multi-year long support area.

Levels to watch: $30, $26

Keep your long term vision,
Philip - BasicTrading

Note

Quick update on Intel:

And here we go: Intel down almost -30% after earnings and perfectly following my previous analysis. Just don't try to catch a falling knife; after such a massive drop, it is likely that we will see even lower prices on Intel in the near future!

Levels to watch: $18

Trade closed: target reached

Quick update on Intel:

Despite the recent drop on Intel of more than -60% in just a couple of months, there is still some room towards the downside before Intel will retest support. It will definitely take a lot of consolidation before Intel can start to create a new bullish trend.

Levels to watch: $18

Click chart above to see the detailed analysis👆🏻

Trade active

Trading update on Intel (INTC):

Click chart above to see the detailed analysis👆🏻

Despite the harsh and totally expected drop on Intel over the past couple of months, Intel still has some more downside potential. Trust in this stock is lost and over time big players will also sell their stock, since they are basically all in a drawdown now.

Levels to watch: $17, $26

Keep your long term vision,
Philip (BasicTrading)

Trade active

Trading update on Intel (INTC):

Click chart above to see the detailed analysis👆🏻

As mentioned back in July, the bottom is still not in on Intel and so far, Intel is down another -12% in September. The next support is still slightly lower and also looking at the previous impulses, Intel also has some more room towards the downside. Just be patient please.

Levels to watch: $18

Keep your long term vision,
Philip (BasicTrading)

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