Interesting Look on Intel's price action over the last 10 MonthsIntel has been respecting alot of chart patterns over the last year and is now breaking out of a Diamond Bottom I think we will test higher highs up to near the $60 - $70 area from here.
I also found some bearish price action on AMD so it would be fitting to see them inversing, you can find my AMD analysis under related.
INTC trade ideas
The power of patience I bought intel on a reversal trade at 47.05 in late November. The trade started of well with a big surge in early December only to give up all the gains by December 21. I stuck with the trade though because the broader reversal play back into the range was still intact- price held above the lows of 43. By the beginning of January the gains returned and on the news this morning the stock has now broken out the top end of the range near 60. As long as the stock can hold 55 now that its up here there should be clear skies ahead.
INTC -- iron condor over againI like doing iron condors on Intel all the time and consistently just keep rolling them out. Never a huge risk play with Intel in my opinion with smaller spreads but always adds a little daily theta to my portfolio.
I don't do a lot, really none at all, Elliot wave counts with Intel. Recently, I just draw supply and demand zones and trade the range.
My play: will look to enter an iron condor tomorrow, looking to sell the $57.50 strike call to upside (buy 60) and sell the 47.5 strike put to downside (buy the 45). Simply approach play and not throwing a lot at it. Something to balance out portfolio a bit and grab some daily theta. Earnings are approaching, however, but will still look to enter this play.
WHY INTEL $INTC is bullishINTEL CORP. ticker symbol INTC
- On the monthly timeframe, a clear bullish Harami candlestick pattern shows that buyers are taking control.
- Intel compared with its competitors has the highest annual earnings(Revenue) at $17B, while AMD $6B & NVIDIA $11B.
- Intel has the strongest balance sheet between its competitors.
- FROM MY POINT OF VIEW Intel YTD is -17% which is a good indication to long this stock while (AMD is +88.70%), (INViDIA +121%)
- INTEL intrinsic value DCF earnings based is $82 price now is trading at $49 (Undervalued)
- And my favorite INTEL pays 2.65% Dividend yield.
Breaking Through Resistance Intel recently broke through resistance, personally I am not a long term bear for Intel as Apple is no longer using them as their supplier. Aside from the fundamentals I see a short term candle trend based off the candle I have pointed out with green arrows.
The candle pointed out indicates how high Intel can reach and I don't think that will be its highest point.
This analysis is only based off of candlestick trends, however I do think with the high RSI and weakening bearish divergence we can expect the price to drop to a low around $48 a share before rising up to $51 a share as predicted.
What matters is timing, and I believe Intel will drop slightly to retest support before testing a new level of resistance.
Depending on price movement I may place calls
Stay tuned for trade activity
INTC - INTEL - NASDAQMy idea it will go up!
Just in case, under the blue line you should stop-loss!
I wish you good profit!
Thanks
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