INTC looks like it will retrace to an old support level around the $44 mark. If it finds support there and gets rejected, I expect the price to move higher, to the $50 area, possible more. Long term: bullish bias
Short term: bearish bias (I would not take a short trade however)
Personally, I will wait for
INTC to confirm the bullish bias and go long at that point. I will post an update later. Keep in mind that there has been a lot of insider buying done on this stock, this week. However, insiders aren't always best at timing the entries as they generally invest for the long term. If we wait a bit more I think we can get a better entry price. There is also a chip shortage right now so short-term it will probably drive the price down even further.
Good luck,
Your Ganbu
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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.