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INTC

INTCJust parked right in the middle of a chop zone not knowing if it wants to gap fill or go back down. 59.40 and 58.50 are the prices I’m watching as a break above or below will send this to the respective supply or demand zone. It has been trading sideways for awhile consolidating; whether it rallies or drops will have to wait and see. This is perfect example of why I wait for a trade set up to come to me as opposed to gambling whether it will go up or down. If I gamble and I’m right, obviously gains are pretty generous but this is not a consistent way to trade and all it takes is one bad trade to blow up everything! I’ll set alerts for a price break above or below to then go and see what price action is doing. I just saw that there is potentially a dividend this week... perfect example of an event (that I don’t trade) that can accelerate the price to one of the two zones.
NASDAQ:INTC
by PT_Marche
2
INTC, bullish and bearish scenario INTC is currently consolidating and is trading in a range on bigger time frames. We do not have clear direction of the trend, and i would not advise to take a trade until we cross the significant level. LONG : i would enter long at 62 level with 1/3 of my position, because we have to be prepared of a fake breakout. ( 80% of all breakouts fail, they usually retest and move higher later). I would wait to retest and bounce back. I would than add at 63, 2/3 and wait what will happen at 64, because there could be a resistance. If we successfuly break it i would add 3/3 of my position and ride it to the upside until i see CLEAR reversal. SHORT : i would short at 56. Volume does not to be big, because on the downside we do not necessarily need it big. i would enter with 1/3 of my position - same reason : fake breakouts. And i would add at every whole number and look closely what will happen at half dollars ( at half dollars we usually create psychological support and resistance levels too ). At 54 we could create strong support level. Watch closely for reversals ( candlesticks, volume ) If we cross it i would add to my position and ride it till i see a clear reversal signal. Stop loss should be always 50 cents if you are risk tolerant, if not you can have a 20 cent stop loss. INTC has a great fundamentals, wall street rates it as a very good tehnical and fundamental company and has a lot of potential in the future. So it is good for investment too. I DO NOT recommend taking any of my trades because of the risk. I AM NOT a financial advisor and i AM NOT a institutional trader. This analysis is purely for entertainment only and it represents an idea what could happen with the stocks future. If you like idea please like and follow. Any kind of support is appreciated.
NASDAQ:INTCLong
by UnknownUnicorn7025460
INTCThink for INTC to try and save itself tomorrow it needs to get above 55.75 if it wants a chance at reclaiming 55.93. If the 55.93 zone rejects, I'm leaning towards price testing the new low made and will look at a price target of 54.13 to the downside. Game Plan: If it can reclaim 55.93 and print above, make higher lows (despite the lower low put in), I would look at a price target of 57.50 to the upside. If it fails to reclaim and tests the new low at 55.26, I think there is a good possibility it fails and we go down and visit 54.13. With 55.26, there is really no support, at all, with it as it is a lower low AND is hanging out in gap zone area from below. If we open tomorrow with bid above 55.93, will look at target upwards to 57.50. If we open tomorrow with a bid below 55.93, will look for it to go test 55.26 with a small risk because either I think it could put up a fighting chance to survive and push back up or, if it breaks, I think we visit 54.13 quickly which is why I am thinking of putting on a small short risk, depending on open, to try and capture a quick move down. If it goes against me, I think it is still a good risk to reward ratio.
NASDAQ:INTC
by PT_Marche
7
INTCThink we can push from this demand level and try to go and close the gap. Open tomorrow will be a big indicator for me as it looks like we are setting up the 1 - 2 wave movement out. These sell offs can produce good rallies by picking up buyers in good demand. However, this is the second time we have visited this level. Game Plan: tomorrow open is important. If we bid up at open and make higher low, I will trade based on this count. IF we break by making a lower low, I’ll watch and see if we move down towards 55.93. So, higher low I think we push for gap fill. Below 55.93, I think 53.80 comes quickly! As a side note, I do have a longer term count potentially down to 45, then eventually 38. So, where we are in this structure is important. If it wants to avoid those levels, some buyers better start stepping up otherwise it can fade.
NASDAQ:INTC
by PT_Marche
2
INTCAgain, having a plan and sticking to it with patience helps with consistency. As I mentioned in previous post, I was staying out until either one of the zones were in play above or below. The below came today and I had mentioned a print below we will go visit $56. We opened right at the 58.39 “uh oh” line I call it. Watched price action (had two 5 minute candles close below, then went to 15 minute to see candle structure overall). And then the game plan played out and price went straight on down to $56, printing a low of 55.93. This is why I wait for set ups; to put the odds more in your favor. I’ll have to re-evaluate the chart tonight but in the meantime, as we sold right into a demand zone, I think we could see a potential relief bounce. If anyone followed along, hope it worked out for you!
NASDAQ:INTC
by PT_Marche
4
INTCIf this wants to go higher I think it needs to clear 60.81 which can be a big hurdle I believe. I think we will get a bounce out of this demand for a potential small day scalp but other than that I’m not making any large moves on this. Below 58.39 I think we go and revisit the 56 area. Above 60.81 I think it can push to 62. Until then, I’m staying out. I’ll watch if price moves up to the 60.81 supply and if it rejects there, I’ll do a small short with a close stop on it. I think that area is important because if it rejects I see good downside; breaks through and it can push. NOTE: if just starting to do options, I think stocks like this are great places to start and learn. Staying close to at the money strikes is easier and learning to capture movements are great compared to dealing with the higher end priced stocks like googl, amzn, nflx, etc. that can swing $50 daily. I always will keep trades on with underlying like this. I go for consistency whether that’s moves of $100 or $1; 5% gains (or whatever amount) are the bigger picture for me
NASDAQ:INTC
by PT_Marche
2
INTCPre market consolidation in supply and failing to get above 62.85 = good recipe for rejection. As mentioned in my prior post for this one, suggested this could be a good entry for a short position! With a rejection at that level, I think INTC just made it harder for itself to invalidate my bear count. Now we saw it rejected supply and faded right down to demand. If it holds here in this demand zone, think it will pop out and push to 61 - 61.65. Those will be big interest levels as if those get rejected, helps support wave count down, suggesting we would be putting in wave “b” up of the larger degree “(a)” wave down. Alternative is for price to extend the retrace and try to form a micro 5 wave impulse up out of this demand level. But again, I think for that to happen we would see price up to 61 area followed by retrace back to demand (for waves 1-2). So thinking either b up of “a” down OR will watch for wave 1-2 to form. *** I did not enter a position today for this one. I was too caught up with some other projections I was watching but now wish I would have focused more here today. If someone did take this set up today, hope it worked well for you!
NASDAQ:INTC
by PT_Marche
3
INTC63.80 is my invalidation... I’m cautious with this one here. Bear argument is that possibly we are forming a running flat correction to complete overall abc retrace. Then again, how many computers have people and companies have to had buy to set up work from home... I know my work had to purchase a lot! If we break 63.80 I’ll reassess but until then, with it in a big supply zone from before, I’ll watch for some price action and volume size tomorrow. If it rejects here, still think my downside count will be valid and this would be a good short entry. Again, will see what happens because markets change and my view could very well change to upside. Tonight, however, I’m to downside if we reject.
NASDAQ:INTC
by PT_Marche
INTCEnd of day we came back out of demand but now looking at it differently. Think 58.78 is going to be important next week if my target of 62 is going to happen (62 is aggressive as 61.85 is the 50% retrace from the start of this overall market drop). If rejected at the supply of 58.78, will be watching and thinking this is the start to the corrective phase down. 58.78 would be 50% retrace for “b” within (a) down. But a retrace to 59.42 - 60 would lead me to think this is wave 2 of 5 down for corrective wave (a) which makes more sense as a-b-c corrections tend to go 5-3-5 waves. Until Monday...
NASDAQ:INTC
by PT_Marche
INTCTook an intraday short trade today when INTC entered (and overshot a bit) a first primary supply level I was targeting. Watched price action and was able to get a good fill on some puts for a nice gain today. From here I think we continue down to demand level for "b" and then reverse upward towards "c." With the craziness of this market, will watch the up move within "c" as there is potential the "c" wave could become an impulse wave. I don't think this will be the case as I still think the market needs to revisit some downside.
NASDAQ:INTC
by PT_Marche