Intel - Back To A Bullish Market!
Updated
Intel (
INTC) perfectly rejected a major previous support:
Click chart above to see the detailed analysis👆🏻
After being cut in half multiple times over the past couple of months, Intel finally managed to reverse at a strong previous support level. However market structure is still clearly not bullish and Intel has to break above the next resistance to start creating a new overall uptrend.
Levels to watch: $26, $20
Keep your long term vision,
Philip (BasicTrading)
INTC) perfectly rejected a major previous support:Click chart above to see the detailed analysis👆🏻
After being cut in half multiple times over the past couple of months, Intel finally managed to reverse at a strong previous support level. However market structure is still clearly not bullish and Intel has to break above the next resistance to start creating a new overall uptrend.
Levels to watch: $26, $20
Keep your long term vision,
Philip (BasicTrading)
Trade active
Trading update on Intel (INTC):
Click chart above to see the detailed analysis👆🏻
After perfectly retesting previous support and creating bullish confirmation, Intel is now heading back to the next structure resistance. The overall trend is still not bullish yet, so taking profits at the next resistance is pretty smart. But another +12% is actually likely.
Levels to watch: $26
Keep your long term vision,
Philip (BasicTrading)
Trade active
Trading update on Intel (INTC):
Click chart above to see the detailed analysis👆🏻
Intel is still clearly trading between support and resistance and there is still a chance that Intel will retest the support at $20 once again, before then heading higher. Since $20 is a major support, a retest could be a valid buying opportunity. Just make sure to manage risk.
Levels to watch: $20, $26
Keep your long term vision,
Philip (BasicTrading)
Trade active
Trading update on Intel (INTC):
Click chart above to see the detailed analysis👆🏻
With bulls still being clearly in control of Intel, it is quite likely that we will see a retest of the upper resistance. It seems like every dip is being bought at the moment and especially after the recent major drop, a healthy bullish corrective rally seems to be extremely likely.
Levels to watch: $20, $26
Keep your long term vision,
Philip (BasicTrading)
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