INTC is forming a symmetrical triangle, indicating a period of consolidation as the price action narrows into the triangle's apex. This pattern suggests indecision in the market, with the potential for a significant breakout in either direction. The resolution of this triangle is likely to set the tone for the next move, however I have taken a bullish position. The price action is nearing the triangle’s apex, suggesting a breakout is likely within the next 3–5 trading sessions.
Watch for a volume spike to confirm the direction of the breakout. For a bullish breakout, take partial profits at $25.50, then hold for the full target of $25.89 to 28.00.
Entry Strategy:
Enter a long position if the price breaks and closes above $24.54 with strong volume.
This would indicate a bullish continuation, with the price likely to target higher resistance levels.
Profit Target Calculation:
Triangle Height:
Measured from $24.54 (upper resistance) to $23.19 (lower support), giving a height of $1.35.
Breakout Target:
Bullish Target: Add $1.35 to the breakout point ($24.54) → $25.89.
Bearish Target: Subtract $1.35 from the breakdown point ($23.66) → $22.31.
Stop-Loss Placement:
For a bullish breakout, place a stop-loss below the lower trendline at $24.19.
For a bearish breakdown, place a stop-loss above the upper trendline at $24.54.
I have already taken a position for 11/22/24 25C @0.28
Watch for a volume spike to confirm the direction of the breakout. For a bullish breakout, take partial profits at $25.50, then hold for the full target of $25.89 to 28.00.
Entry Strategy:
Enter a long position if the price breaks and closes above $24.54 with strong volume.
This would indicate a bullish continuation, with the price likely to target higher resistance levels.
Profit Target Calculation:
Triangle Height:
Measured from $24.54 (upper resistance) to $23.19 (lower support), giving a height of $1.35.
Breakout Target:
Bullish Target: Add $1.35 to the breakout point ($24.54) → $25.89.
Bearish Target: Subtract $1.35 from the breakdown point ($23.66) → $22.31.
Stop-Loss Placement:
For a bullish breakout, place a stop-loss below the lower trendline at $24.19.
For a bearish breakdown, place a stop-loss above the upper trendline at $24.54.
I have already taken a position for 11/22/24 25C @0.28
Trade active
I have already taken a position for 11/22/24 25C @0.28 getting ready for a push anytime nowNote
STC INTC 11/22/24 25C @.44 PARTIAL - leaving 3 runners into fridayTrade closed: target reached
STC INTC 11/22/24 25C @.52 - ALL OUT ~ 85% gains
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.
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.