Downward move becomes weaker, long entry
Updated
After earnings Intel dropped in an overreaction and this seems to be a cheap entry point.
Today it hit the weekly MA 200 and bounced back.
RSI is in oversold territory.
dropping volume and macd indicate that the sell off has lost it's power
Next support is the MA 50 of the monthly chart.
Took a long position right before the bell with the following plan:
TP1: 52.09
TP2: 56.74
TP3: 61
SL: 45.13
Might take a while but patience gets rewarded quite often.
Today it hit the weekly MA 200 and bounced back.
RSI is in oversold territory.
dropping volume and macd indicate that the sell off has lost it's power
Next support is the MA 50 of the monthly chart.
Took a long position right before the bell with the following plan:
TP1: 52.09
TP2: 56.74
TP3: 61
SL: 45.13
Might take a while but patience gets rewarded quite often.
Trade active
TP1 reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.