Intel has been range boune between 20-70 which is very wide.
It may try to give bear a dead cat bounce only later it would be decided whether it may fall further of look for newer high. But time is bit far as 44$ is a supply area for bulls.
Intel $INTC seems like bottoming out with a Bullish triple positive divergence on RSI. Risk to Reward is highly favourable @CMP & chips shortage will
definitely act as a catalyst for this world leader.
Intel Breaking out of a consolidation range after almost 9 months. Made a dbl bot and in the process of completing the "W"
Approaching the 200ema, bulls will definitely look to enter above it
Intel is ready for a good RR trade.
Entry in staggered way-
1. at current candle high 1/3rd qty 56.32
2. retest at 54.61
3. pyramid at 58.46
eventual target 74.7/68.5
This one is making one more small correction before it heads last down action ,
its very high likely will bounce making an Double bottom and will move up back up side
Position the size once it hits the double bottom pattern with Daily reversal as buy set up
Weekly looks bearish and on lower time frames we can see a clear triple top formation
its a good opportunity for a short after resistance breakout
MACD & RSI showing a big divergence on the tops making lower highs instead
