| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 29.00 |
| Take Profit | 24.60 |
| Stop Loss | 31.00 |
| Key Levels | 24.60, 29.00, 31.10, 34.50 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 31.10 |
| Take Profit | 34.50 |
| Stop Loss | 30.00 |
| Key Levels | 24.60, 29.00, 31.10, 34.50 |
Current trend
Shares of Intel Corp., a giant in the development and sale of electronic devices and computer components, are trading in a corrective trend at 30.00.
International law firm The Rosen Law Firm P.A. filed against Intel Corp. class action lawsuit and encourages all its investors who believe their rights have been violated to join. They accuse the corporation of making misrepresentations and intentionally disclosing false information about the growth of Intel Foundry Services from January 25 to April 25, which could have led to losses during the specified period. Based on the experience of such claims, it will be difficult to prove the fact of a violation, even considering the experience and reputation of lawyers.
Yesterday it was announced that sales of Intel Corp. may decline after the US government once again revokes export licenses for certain buyers in China. The name of the Chinese partner has not been disclosed but according to Reuters, it could be Huawei Technologies Co. Ltd., which is indirectly confirmed by reports from another chip manufacturer Qualcomm Inc., which announced the revocation of the export license for Huawei Technologies Co. Ltd.
Support and resistance
On the daily chart, the trading instrument is moving below the support line of the downward channel 41.50–39.80.
Technical indicators are holding a sell signal: the EMA fluctuation range of the Alligator indicator is expanding downward, and the AO histogram is forming downward bars below the transition level.
Resistance levels: 31.10, 34.50.
Support levels: 29.00, 24.60.
Trading tips
Short positions may be opened after the price declines and consolidates below 29.00, with the target at 24.60 and stop loss 31.00. Implementation period: 7 days or more.
Long positions may be opened after the price rises and consolidates above 31.10, with the target at 34.50. Stop loss – 30.00.
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