$INTC TOP 20
Added 2023-04-29 21:35:52 +0000 UTCA mixed reaction when they reported earnings, on paper it is a beat but in the detail, revenue is down -36%, so it opened down but recovered very well during the earnings call....the opposite to what happened with $INTC. $INTC is in the right industry at the right time now but has not capitalised on this yet.
Two price targets got announced after the earnings and they are $30 and $39, whereas the mean price target is about $32, this is not showing any potential upside for now.
So What Now?
Bounced as expected after the earnings and I said before the report, this was likely to happen regardless of the earnings report which is an odd situation to be in but that is what happened. It bounced very well, almost to the 0.88 Fib but finished the week underneath the yellow trend line which has been a resistance line since October last year.
Until my count changes, I am sticking with the corrective amber count as it has done what we have expected, the bull case line is as shown.
