INTEL may be one of the first AI stocks to be sending warning signals.
Looking at the price of INTEL, the major top made near 140$ was rejected straight away with a double top rejection. This suggests that the move up was a deviation , a fakeout to take out liquidity before the start of the major leg to the downside. This idea is supported with the break of structure below 99$ which marked the first major shift from bullish to bearish.
Now areas to mark out for potential retracement before move down is the golden pocket 618 level.
If the bear case plays out , taking a measure from the 132$ towards the downside support area , our next target areas come at the 70$ , a 30% decline from current levels.
If this plays out , this would be a major move. So watch out on the levels , the 618 and the reaction.
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Looking at the price of INTEL, the major top made near 140$ was rejected straight away with a double top rejection. This suggests that the move up was a deviation , a fakeout to take out liquidity before the start of the major leg to the downside. This idea is supported with the break of structure below 99$ which marked the first major shift from bullish to bearish.
Now areas to mark out for potential retracement before move down is the golden pocket 618 level.
If the bear case plays out , taking a measure from the 132$ towards the downside support area , our next target areas come at the 70$ , a 30% decline from current levels.
If this plays out , this would be a major move. So watch out on the levels , the 618 and the reaction.
Hope you liked the analysis. Make sure to follow for more.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.