$INTC TOP 20
Added 2023-07-09 19:05:38 +0000 UTCCame down and tested the yellow line at $31.30 this week which was at the 50 Day MA exactly when this happened.....it always amazes me how these fixed resistance/support lines which have been on my chart for months can coincide exactly with the 50 and 200 Day MA's at the right moments. The price action held this level but did not show a lot of strength after wards, the trend here is still favouring the downside.
The RSI and MACD look quite bearish here too, a second test of the yellow line and the 50 Day MA will give us more information.
Failure to hold here and this moves down for Wave 3, leading up to earnings on the 27th of July.
I am not considering a position here at the moment when there are a lot of better setups right now.
