$INTC TOP 20
Added 2024-07-09 12:53:33 +0000 UTCStrong performance yesterday and now up +3% in the PM too, which brings the price exactly to the 0.618 Fib at $34, after holding on the 0.78 Fib for over 2 months, the good news here is that the price action is respecting the Fib support levels....when we see this, we know that this will likely continue and use the Fib levels to guide us.
Like I said over the weekend, a flip of the 0.618 Fib to support at $34 would put this in a strong position and we can rule out the Red Wave 5 and watch for signs of an impulse wave and $INTC moving higher, the 200 Day MA at $39 would be the initial target.
Very happy to see a strong movement here, I believe $INTC will continue to be a strong player for decades to come, as it has been in the past.
Comments
Cap, do you expect a small pull back / re-test first, or can it go straight up, thinking about the layering in of a small position? Is this where you would buy a 25% tranche now and more if it survives a retest?
G4Golf
2024-07-09 12:57:50 +0000 UTC
