Intel Corp.: wave analysis 10 August 2018, 09:49

Intel Corp.: wave analysis

10 August 2018, 09:49

Scenario
Timeframe	Weekly
Recommendation	SELL
Entry Point	50.15
Take Profit	42.80
Stop Loss	53.23
Key Levels	42.80, 53.23, 57.60

Alternative scenario
Recommendation	BUY STOP
Entry Point	53.30
Take Profit	57.60
Stop Loss	51.85
Key Levels	42.80, 53.23, 57.60

The price can fall.
On the 4-hour chart, the upward momentum formed within the third wave 3 of the higher level. Locally the downward correction is developing as a fourth wave 4, within which the wave a of 4 is forming. If the assumption is correct, the price will fall to the level of 42.80. The level of 53.23 is critical and stop loss for this scenario.


Main scenario
Short positions will become relevant during the correction, below the level of 53.23 with the target at 42.80. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 53.23 will let the price grow to the level of 57.60.