INTC is going sideways since 2018.
INTC reaching a nice support zone
With the recent downturn in tech stocks, INTC may poise for a short term rebound.
Things to take note for downside risk:
1) This support zone is in the middle of the bigger sideway zone. so chances of winning 50:50. but it's a good time to collect some should there be a short term rebound and perhaps breaking new high due to increased demand in the global recovery. Otherwise, this trade could become a long term trade
2) May anormaly: Sell in May and go away
EP: now ($57.19) or within support zone.
TP: $64.23 or $68.49
No stop loss: enter again when prices hit around $43.72 and ride the sideways market.
INTC reaching a nice support zone
With the recent downturn in tech stocks, INTC may poise for a short term rebound.
Things to take note for downside risk:
1) This support zone is in the middle of the bigger sideway zone. so chances of winning 50:50. but it's a good time to collect some should there be a short term rebound and perhaps breaking new high due to increased demand in the global recovery. Otherwise, this trade could become a long term trade
2) May anormaly: Sell in May and go away
EP: now ($57.19) or within support zone.
TP: $64.23 or $68.49
No stop loss: enter again when prices hit around $43.72 and ride the sideways market.