Intel forms a cup do i hear a handle??Basic analysis of a promising cup and handle formation, firstly I believe tech stocks will hold this market up during this period of uncertainty, and Intel is a great example. With this bullish formation, after a small pullback to form the handle Intel is setup for a nice run. I might go long on this.
Intclong
INTC IslandsIslands form when 'prices gap up to the formation and then gap down at the same price level' this is what traders would call an island top, where the initial breakout is upward, forming the island seen, and then a drop back down to the water follows so to speak. With a 23/23 success rate in a bull market according to 'Encyclopedia of chart patterns' islands are a reliable way of picking possible reversal points.
INTC Cup and handle?Looks like a cup to me, whether the handle forms or not is another question. Waiting for a lower entry is the best bet if following this chart. The bull trend will continue very strongly after this development. Intel is creating some very powerful processors and investing in AI development, these fundamentals are promising for the future of the company.
INTEL STOCKS LONG HOLD 2-3 YEARS! POTENTIAL FOR LONG TERM PROFITWhile the ADX is quite high, the PVT is however below zero so this might not be the best to invest in..... especially since it seems to now be descending.
However, I'm here to tell you it might be a smart idea to invest as Intel has just confirmed that they are entering the GPU market by 2020 and hence preventing NVIDIA from becoming a pseudo-monopoly.
Intel's stocks will most likely skyrocket and investing during this downtrend may be very profitable in the next 2-3 years; especially as gaming is getting bigger and so is crypto mining, both of which require gpu's.
A lot of investors are probably waiting for more information so it might be beneficial to invest now!