INTC: Great correction to buy more or enter for the first time
INTC gave us a nice correction after the earnings report, sending it close to support at 34.90 and also landing on the lower deviation of a linear regression channel that I started from 2016's low, and anchored the other end to the highest high on October 10th. The new Key Earnings Level should act as a magnet propelling prices back up to 36.50 quickly. Once we break above it, and start moving up again, price will resume the long term uptrend.
Check related ideas for more information regarding the trend duration, targets and more.
Good luck!
Ivan Labrie.
Check related ideas for more information regarding the trend duration, targets and more.
Good luck!
Ivan Labrie.
Kommentar:
You may add to the long here.
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I'd reccomend hedging here or selling the position since it might go lower to the next support level.
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Back to the entry zone, we can buy it back next week.
Trade ist aktiv:
I rebought at 34.99
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Risk was $1.98 per share
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Now you can reenter or add.
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My avg entry is 34.61, I'm selling at the money calls here -strike 36, Jan 20th 2017 expiration-
Should be bottoming around here.