Intel Corp.: wave analysis 07 December 2018, 08:41

Intel Corp.: wave analysis

07 December 2018, 08:41

Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	48.36
Take Profit	53.30, 57.40
Stop Loss	43.85
Key Levels	39.34, 42.43, 53.30, 57.40

Alternative scenario
Recommendation	SELL STOP
Entry Point	42.35
Take Profit	39.34
Stop Loss	43.35
Key Levels	39.34, 42.43, 53.30, 57.40

The price may grow.
On the 4-hour chart, a downward correction developed as the fourth wave 4 of the higher level. Locally the formation of the fifth wave 5 has begun, within which the first wave of the lower level i of 5 has formed, and the local correction ii of 5 is developing, taking a shape of an irregular flat. If the assumption is correct, after the end of the correction, the price will grow to the levels of 53.30–57.40. In this scenario, critical stop loss level is 42.43.


Main scenario
Long positions will become relevant during the correction, above the level of 42.43 with the targets at 53.30–57.40. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 42.43 will let the price go down to the level of 39.34.