Sep 15, 2020, 7:34:30 AM
Intel Corp.: wave analysis
The price may grow.
On the daily chart, the third wave of the higher level (3) develops, within which the wave 1 of (3) formed. Now, a local correction has developed as the wave 2 of (3), and the formation of the wave 3 of (3) is starting. If the assumption is correct, the price will grow to the levels of 61.90–65.07. In this scenario, critical stop loss level is 46.80.
Main scenario
Long positions will become relevant during the correction, above the level of 46.80 with the targets at 61.90–65.07. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 46.80 will let the price go down to the levels of 43.45–39.50.
Scenario
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Timeframe
Weekly
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Recommendation
BUY
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Entry Point
49.53
-
Take Profit
61.90, 65.07
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Stop Loss
46.80
-
Key Levels
39.50, 43.45, 46.80, 61.90, 65.07
Alternative scenario
-
Timeframe
Weekly
-
Recommendation
SELL STOP
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Entry Point
46.75
-
Take Profit
43.45, 39.50
-
Stop Loss
47.85
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Key Levels
39.50, 43.45, 46.80, 61.90, 65.07
