Intel Corp.: wave analysis
24 August 2018, 09:51
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 46.96 |
| Take Profit | 42.80 |
| Stop Loss | 50.95 |
| Key Levels | 42.80, 52.00, 57.60 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 52.10 |
| Take Profit | 57.60 |
| Stop Loss | 50.25 |
| Key Levels | 42.80, 52.00, 57.60 |
The price can decrease.
On the 4-hour chart, the downward correction develops as a fourth wave 4 of the higher level. Locally the wave a of 4 as has formed a wedge, and the correctional growth of the price within the wave b of 4 begins. If the assumption is correct, after the end of the correction the price will fall to the level of 42.80. The level of 52.00 is critical and stop loss for this scenario.
Main scenario
Short positions will become relevant after the end of the correction b of 4, below the level of 52.00 with the target at 42.80. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 52.00 will let the price grow to the level of 57.60.
On the 4-hour chart, the downward correction develops as a fourth wave 4 of the higher level. Locally the wave a of 4 as has formed a wedge, and the correctional growth of the price within the wave b of 4 begins. If the assumption is correct, after the end of the correction the price will fall to the level of 42.80. The level of 52.00 is critical and stop loss for this scenario.
Main scenario
Short positions will become relevant after the end of the correction b of 4, below the level of 52.00 with the target at 42.80. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 52.00 will let the price grow to the level of 57.60.
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