Intel Corporation Still Bullish
Updated
Hi traders,
Intel corporation can be trading in a bullish impulse, up from 2008. We can see completed legs (1), (2) and (3), meaning price activity since the beginning of 2020 can belong a a corrective wave (4). We see sub-wave C of (4) underway, which can look for support at former swing lows, and at Fib. ratio of 50.0 (43.7/42.4 level).
trade well,
the EW-forecast team
Intel corporation can be trading in a bullish impulse, up from 2008. We can see completed legs (1), (2) and (3), meaning price activity since the beginning of 2020 can belong a a corrective wave (4). We see sub-wave C of (4) underway, which can look for support at former swing lows, and at Fib. ratio of 50.0 (43.7/42.4 level).
trade well,
the EW-forecast team
Note
We have noticed an interesting drop on Intel after bad earnings report and what we see is that it's moving nicely as we expected few weeks back, ideally back to lows for wave (5) of C with room down to around 40 level and then we should be aware of a potential bullish reversal back to highs.
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