Short

INTC Long Term Elliot Wave Analysis

Updated

Long term sell opportunity for INTC approaching as we near completion of ascending triangle pattern. Watch for break down follow elliot wave completion or break downward of triangle. Target is volume profile support.

Elliot wave cheatsheet: i.imgur.com/0seX1P3.png

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Monitoring this ascending wedge we are looking for: a) hit elliot wave target or b) clear break down from triangle before entering short.

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Trade stands- monitoring

Trade active

Entry @ 55.39

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Nice move down today. Reviewed short position to consider closing it early but it still looks good

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Trade looks really strong. Daily RSI dipping hard to 27. Mean reversion upward should occur before we get more downside, and will likely close the gap to 52.16. Early TP here (@ 48.76) in anticipation of sideways/mean reversion could be excellent exit. Going to hold position for now.

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49.80 today could be another good early exit and great profit. Going to hold position for now.

autemox

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