Bullish Case for intel, Breakout imminent.
Alot going on here.
Big things to understand, intel is not only in a descending channel but is trying to breakout to the upside. We could be out of this channel anytime between now and the next week.
Bullish case:
Intel is retesting again the weekly 200MA intel has had nothing but respect for the weekly 200MA since it's run began last year. The weekly 200MA is also conveniently at a large historical support of $42.00.
On top of this, the weekly is showing a 3 stars in the south candlestick pattern which is a bullish reversal pattern showing exhaustion from sellers.
I see intel going back to 45-46$ in the coming few days, from there it's going to either paint a head and shoulders, or could absolutely take off in the coming weeks.
Big things to understand, intel is not only in a descending channel but is trying to breakout to the upside. We could be out of this channel anytime between now and the next week.
Bullish case:
Intel is retesting again the weekly 200MA intel has had nothing but respect for the weekly 200MA since it's run began last year. The weekly 200MA is also conveniently at a large historical support of $42.00.
On top of this, the weekly is showing a 3 stars in the south candlestick pattern which is a bullish reversal pattern showing exhaustion from sellers.
I see intel going back to 45-46$ in the coming few days, from there it's going to either paint a head and shoulders, or could absolutely take off in the coming weeks.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.