Intel Corp.: wave analysis 2017-03-07 08:42 (GMT+2)  Stocks

The correction continues.

On the 4-hour chart the development of the upward momentum as a third wave of the highest level iii of 5 has ended. Locally the downward correction as a fourth wave iv of 5, within which the wave (b) has formed and the development of the wave (c) has begun, is forming. If the assumption is correct, the price will lower to the level of 34.50-33.23. The level of 36.67 is critical for this scenario.

Trading scenario

Sell the stock from the correction below the level of 36.67 with the target at 34.50-33.23.

Alternative scenario

The breakout and the consolidation of the price above the level of 36.67 will let the price to grow to the level of 40.00.

2017-03-07 08:42 (GMT+2) Stocks

Stocks: Intel Corp.: wave analysis

2017-03-07 08:42 (GMT+2) Stocks

Stocks: Intel Corp.: wave analysis

Scenario

Timeframe Weekly
Recommendation SELL
Entry Point 35.50
Take Profit 34.50, 33.23
Stop Loss 36.10
Key Levels 33.23, 34.50, 36.67, 40.00

Alternative scenario

Recommendation BUY STOP
Entry Point 36.70
Take Profit 40.00
Stop Loss 35.60
Key Levels 33.23, 34.50, 36.67, 40.00

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