Intel Corp.: wave analysis 15 January 2019, 08:29

Intel Corp.: wave analysis

15 January 2019, 08:29

Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	48.33
Take Profit	53.30, 57.40
Stop Loss	43.50
Key Levels	39.34, 43.50, 53.30, 57.40

Alternative scenario
Recommendation	SELL STOP
Entry Point	43.45
Take Profit	39.34
Stop Loss	44.90
Key Levels	39.34, 43.50, 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 local correction ii of 5 has developed, and the formation of the wave iii of 5 has begun. If the assumption is correct, the price will grow to the levels of 53.30–57.40. In this scenario, critical stop loss level is 43.50.


Main scenario
Long positions will become relevant during the correction, above the level of 43.50 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 43.50 will let the price go down to the level of 39.34.