INTEL CORP.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 20.54 |
| Take Profit | 37.25, 51.10 |
| Stop Loss | 12.13 |
| Key Levels | 5.00, 8.00, 12.13, 37.25, 51.10 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 12.10 |
| Take Profit | 8.00, 5.00 |
| Stop Loss | 13.45 |
| Key Levels | 5.00, 8.00, 12.13, 37.25, 51.10 |
The price is in a correction and may grow.
On the weekly chart, the first wave of the higher level (1) formed, and a correction develops as the second wave (2). Now, on the daily chart, the wave C of (2) is ending, within which a momentum has formed, and the fifth wave of the lower level v of C of (2) is ending. If the assumption is correct, the price will grow to the area of 37.25–51.10. In this scenario, critical stop loss level is 12.13.
Main scenario
Long positions will become relevant above the level of 12.13 with the targets at 37.25–51.10. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 12.13 will let the asset go down to the area of 8.00–5.00.
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