Breaking Through Resistance
Intel recently broke through resistance, personally I am not a long term bear for Intel as Apple is no longer using them as their supplier. Aside from the fundamentals I see a short term candle trend based off the candle I have pointed out with green arrows.
The candle pointed out indicates how high Intel can reach and I don't think that will be its highest point.
This analysis is only based off of candlestick trends, however I do think with the high RSI and weakening bearish divergence we can expect the price to drop to a low around $48 a share before rising up to $51 a share as predicted.
What matters is timing, and I believe Intel will drop slightly to retest support before testing a new level of resistance.
Depending on price movement I may place calls
Stay tuned for trade activity
The candle pointed out indicates how high Intel can reach and I don't think that will be its highest point.
This analysis is only based off of candlestick trends, however I do think with the high RSI and weakening bearish divergence we can expect the price to drop to a low around $48 a share before rising up to $51 a share as predicted.
What matters is timing, and I believe Intel will drop slightly to retest support before testing a new level of resistance.
Depending on price movement I may place calls
Stay tuned for trade activity
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