$INTC TOP 20 - WATCHLIST -
Added 2024-07-07 14:20:53 +0000 UTCWe have been watching this closely for awhile now and last week we highlighted that a move was likely to come as the 50 Day MA approaches the 0.78 support line.
$INTC moved with $AMD and broke away this week but we are still very early here.
Price is just above the 50 Day MA but we do not have a retest of the 50 Day MA yet at $31, a retest and hold on this level and I expect this to move higher.
A bullish position would be getting above the 0.618 Fib at $34 and we can eliminate the Wave 4 possibility.
$INTC is not at the same level as $NVDA but they are preparing for the future and they will likely catch up eventually....the question is whether you are prepared to buy now at a discount and wait long term.
In terms of risk v reward, the price here is attractive, considering it was at $50 in Nov and very little has changed and it may have completed its ABC pull back.
