INTEL Breakdown! Bearish Move Smashes First TargetIntel has shown a significant bearish movement on the Risological swing trader after the short entry at 23.36, with the price quickly moving towards the first profit target.
Key Levels
Entry: 23.36 – The short trade was initiated as the price broke below this level, confirming bearish sentiment.
Stop-Loss (SL): 23.59 – Positioned slightly above recent resistance to manage risk in case of a price reversal.
Take Profit 1 (TP1): 23.07 – The first target, which has been hit, indicating the trade is progressing in the right direction.
Take Profit 2 (TP2): 22.60 – The second profit-taking level is also hit as the bearish momentum builds.
Take Profit 3 (TP3): 22.14 – If selling pressure continues, this is the next target to watch for.
Take Profit 4 (TP4): 21.85 – The ultimate profit target, signaling a significant downward move.
Trend Analysis
The price is moving downward sharply, breaking below the support of the Risological Dotted trendline, confirming a strong bearish trend. The sharp drop shows significant selling pressure, which suggests further downside potential.
With TP1 reached, the next targets at 22.60 and 22.14 are in focus as the bearish momentum continues. If the trend holds, there’s a strong possibility of achieving TP4 at 21.85.
Intel’s sharp breakdown following the short entry at 23.36 has resulted in hitting the first profit target at 23.07. With strong bearish momentum and the price moving below the Risological Dotted trendline, further downside targets are likely to be achieved if this trend continues.
