$INTC TOP 20
Added 2023-04-22 22:27:54 +0000 UTCI was particularly happy to see $INTC drop back down to range we have been in since October 2022, I think $NVDA and $INTC were being heavily bought as tensions between China and Taiwan were increasing, so if a conflict did arise there, this would have put these two companies in a very strong position to capitalise on the impact on Taiwan's strong semiconductor industry.
This is likely the cause of $NVDA's incredible strength lately and $INTC's strange moves since the middle of Feb but what we always maintained was that the structure from $INTC was looking corrective as there was only 3 waves shown and a very weak pull back. So I think this helped people not to chase as the set up was not looking strong and structured.
So What Now?
We are looking for this to move down through the 5 waves down now in amber, the 200 Day MA is just below, so maybe we will see a bounce for Wave 2 before it breaks below this level, as shown on the chart. I will be waiting for the buy zone here to add.
