For the third time in a row, Apple reports a dip in sales as it releases its report for Q2 2023. The announcement led to a 7% drop in stock prices as more investors seemed to lose confidence in the stock’s performance.
The stock of Intel is bound to move
2019-11-11 • Updated
BUY $58.00; TP $59.50; SL $57.70
SELL $54.90; TP $53.50; SL $55.20
The stock of Intel jumped last week above $56 propelled by the strong earnings report. Given the favorable fundamentals, there are all chances that Intel will be able to go even higher, to the $59.50/$60.00 area.
The technical picture also looks well. Firstly, the only resistance on the way is at $57.80 (April 2018 high). Secondly, the price broke above the big triangle (now providing support at $53.20). The question now is whether the stock will try to correct down after its rapid advance or consolidate for a longer period of time. Yesterday, the attempt of bears to pull the price lower was met with demand at $55.60, but a decline below $55.00 would make it vulnerable for a slide to $53.20 (this scenario is also viable as the price action on the W1 resembles a bearish harmonic “Gartley” pattern). At the same time, the break above $57.80 will be a bullish trigger, although we may have to wait for some time for it to happen.
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It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
Are you searching for trade opportunities for December 6-10? Here you go!
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