Intel Corp.: wave analysis 16 July 2019, 09:37

Intel Corp.: wave analysis

16 July 2019, 09:37

Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	50.11
Take Profit	51.28, 53.25
Stop Loss	49.50
Key Levels	42.71, 46.99, 51.28, 53.25

Alternative scenario
Recommendation	SELL STOP
Entry Point	46.90
Take Profit	42.71
Stop Loss	48.30
Key Levels	42.71, 46.99, 51.28, 53.25

The price may grow.
On the 4-hour chart, the third wave (3) of the higher level developed, and the downward correction forms as the wave (4). Now, the downward momentum within the wave A of (4) has formed, and the upward local correction of the lower level B of (4) is developing, within which the wave a of B has formed, the wave b of B has ended, and the wave c of B is forming. If the assumption is correct, the price will grow to the levels of 51.28–53.25. In this scenario, critical stop loss level is 46.99.


Main scenario
Long positions will become relevant during the correction, above the level of 46.99 with the targets at 51.28–53.25. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 46.99 will let the price go down to the level of 42.71.