INTC : overextended wave 5 possible

30 Mar 2020

Major support has been tested multiple times around $45. Should it fail, with Wave 3 being less than 1.618, wave 5 tends to overextend itself. Targeting a price point of $35 - $33 to look at building a long position to capture a relief bounce for Wave B of the ABC correction (5-3-5) I’m leaning towards.