2019-11-11 • Updated
Trade ideas
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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Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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