Hello Traders and Investors, today I will take a look at Intel.
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Explanation of my video analysis:
In the beginning of 2023 Intel stock retested a multi year long horizontal structure at the $26 level. Here Intel created bullish confirmation and took off, creating a crazy rally of +100% within a couple of months. Then we saw a false breakout towards the upside which was followed by an incredible sell off. At the moment Intel is retesting support so we might see a short term short covering rally.
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Keep your long term vision,
Philip (BasicTrading)
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Explanation of my video analysis:
In the beginning of 2023 Intel stock retested a multi year long horizontal structure at the $26 level. Here Intel created bullish confirmation and took off, creating a crazy rally of +100% within a couple of months. Then we saw a false breakout towards the upside which was followed by an incredible sell off. At the moment Intel is retesting support so we might see a short term short covering rally.
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Keep your long term vision,
Philip (BasicTrading)
We might still see a bullish reversal which leads to a nice rally, be patient!