I expect the current upward momentum in Intel's (INTC) price action to continue. However, in the event of an unexpected retracement, I am monitoring the lower support zone as a critical defense line.
The price has a high potential to continue its direct movement towards the upper target. However, if a pullback occurs as illustrated by the yellow path on the chart, I expect the lower grey support zone to be strongly defended by buyers.
Whether the price bounces from this alternative support scenario or continues its momentum from current levels, I anticipate the ultimate target to be a strong bullish wave reaching the upper main resistance zone.
The price has a high potential to continue its direct movement towards the upper target. However, if a pullback occurs as illustrated by the yellow path on the chart, I expect the lower grey support zone to be strongly defended by buyers.
Whether the price bounces from this alternative support scenario or continues its momentum from current levels, I anticipate the ultimate target to be a strong bullish wave reaching the upper main resistance zone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.