Intel (INTC) Pullback Towards HTF EMAs Probable?

By The Private Banker of The Private Banker

Trader • Aug 31, 2020 at 6:10 AM EDT

Due to a delay of the 7nm chips the INTC stock dropped with an immense gap down several weeks ago. Currently, the market trades in a rotational behavior around a previously balanced price structure on the daily periodicity.

(Click on image to enlarge)

Due to a delay of the 7nm chips the INTC stock dropped with an immense gap down several weeks ago. Currently, the market trades in a rotational behavior around a previously balanced price structure on the daily periodicity. The lower extreme of the current balance area could be still retested to find some buying activity. A gap fill is probable as the market could test the major EMAs with a pullback. Keep in mind that the market trades below the three major HTF EMAs which should be a bearish sign for now. With caution, we should monitor the test of the current bracket’s high.

The current Quarterly balance sheet of INTC:

(Click on image to enlarge)

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