Elliott Wave Technical Analysis: Intel Corp. - Wednesday, Dec. 21

By Peter Mathers of Trading Lounge

Elliott Wave Analyst - tradinglounge • Dec 21, 2022 at 7:48 AM EST

Price has been moving as expected, almost a textbook scenario. We bounced off the parallel channel and we are now extending lower.

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Intel Corp., Elliott Wave Technical Analysis

Intel Corp., (Nasdaq: INTC): Daily Chart, December 21, 2022,

INTC Stock Market Analysis: Price has been moving as expected, almost a textbook scenario. We bounced off the parallel channel and we are now extending lower. Looking for wave {iii} to be broken as wave {iv} seems to be finished.

INTC Elliott Wave Count: Wave (iii) of {v}.

INTC Technical Indicators: Below all averages.

INTC Trading Strategy: Looking for shorts into wave (v).

Analyst: Alessio Barretta

Intel Corp., INTC:4-hour Chart, December 21, 2022

Intel Corp., Elliott Wave Technical Analysis

INTC Stock Market Analysis: We can see how it is accelerating to the downside as we are in wave iii of (iii) which confirms the overall count. Looking for a pullback in wave iv soon.

INTC Elliott Wave count: Wave iii of (iii).

INTC Technical Indicators: Below all averages.

INTC Trading Strategy: Looking for shorts into wave v on the pullback in iv. We could get wave iv trying to look for resistance on the 20EMA.

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