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.