INTCD trade ideas
INTC needs more info to make a decisionAnother chip shortage stock and this one needs more input to make a decision. Look for consolidation until mid July. 9/20 EMAs twisting, 50/100 SMAs twisting. RSI is facing up but the MACD is flat. 2 outcomes with equal profit/loss outcomes. Bearish: KL drops below 55 and holds sees a drop to 51. Bullish: KL rises over 58 and holds sees a rise to 62 to fill the gap. This is a hard read. more data over the next couple of weeks will make my decision for me.
Possible short play in IntelThe new Intel CEO Pat Gelsinger is spending a wapping $20 billion into two chip manufacturing facilities and he is also restructuring the company. Analysts seem positive about this and has an average price target of $64.13 according to tipranks.com.
So the long term prospects of the company could very well be positive, but what about the short run? The stock is currently trading at a P/E ratio of 12.42 (forward P/E 12.07) which isn’t very high. But the PEG is 2.29 and that is very high as a value of over 1 is considered overvalued.
Technically things are not looking too great. INTC has fallen through support at the 50% Fibonacci level. From the end of May to mid-June it traded in a consolidation after finding support at the 62% level. It made a failed attempt to break that range on the upside and then fell right through again.
Volume is usually not very volatile but on the fall through day June 18 it traded more than twice the average volume.
On the monthly chart we can see the double top that has formed in 2020 and 2021. Right now, trading below what used to support at about 55.30 from the top in 2018. If we get a close under this level on monthly basis in June, I think a test to the rising trendline is the most likely scenario.
A test of the falling trendline from the top April 13 is likely before the next leg down. If we get such a test and if does fail this could be an opportunity for a short play with a target at the rising trendline on the monthly chart, currently at about $45. A stop would be just above the falling trendline.
$INTC #INTC it kinda like that imoif you see higher high and lower low it's freaking buying opportunity at some point , but when ? today was the day
so it goes , and sense "they" do not buy just for one day , this will be 3-5 days uptrend ..just got to watch the price ( because price is everything )
GL all
Interesting week for $INTC. To gap fill? Or not to gap fill?Intel got domped on earnings leading to a nice gap down that has yet to be filled. Like clockwork, buyers stepped in once prices reached the 200 daily moving average @ $54 driving the share price higher.
The volume profile is showing a lot of shares were traded at around $57 per share, thereby forming a nice base, or support, now that price is peeking above it.
There is a low volume node at around $58.40 and price is also approaching the 55 exponential moving average. Therefore, should buyers lose interest it would be around that price. If price moves past the $58.40 area with ease, I am confident $INTC will be able to fill the gap completely and move towards the $64 market.
INTEL CORPORATION (INTC) NASDAQGo Long for INTC; Still holding.
Daily Time Frame:
1. MACD Lines Entering Bottom
2. MACD Histogram Bear Losing Power
3. Bull Pullback & Failed
4. All-Time High (Resistance)
5. Long Position Set Up
6. Impulse System Green or Hollow
7. Price back to Blue Line/ Value Line (Entry Price)