INTEL CORP.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 35.07 |
| Take Profit | 51.10, 56.10 |
| Stop Loss | 32.00 |
| Key Levels | 24.28, 26.82, 32.00, 51.10, 56.10 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 31.95 |
| Take Profit | 26.82, 24.28 |
| Stop Loss | 33.72 |
| Key Levels | 24.28, 26.82, 32.00, 51.10, 56.10 |
The price is in a correction and may grow.
On the daily chart, a downward correction of the higher level ended as the second wave (2), within which the wave C of (2) formed, and the third wave (3) started. Now, the first wave of the lower level 1 of (3) is developing, within which the wave iii of 1 has formed, and a local correction is developing as the wave iv of 1. If the assumption is correct, the asset will grow to the area of 51.10–56.10. In this scenario, critical stop loss level is 32.00.
Main scenario
Long positions will become relevant above the level of 32.00 with the targets at 51.10–56.10. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 32.00 will let the asset go down to the area of 26.82–24.28.
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