Can INTC breakout from a trinagle ? LONG

2024년 3월 4일

INTC on a 180 minute chart is in a flat bottom triangle since before earnings. The earnings

report was a beat of 20% on earnings and 1.5 % on revenue but apparently disappointed greedy

traders expecting more. Price has been mostly sideways. I saw the dip on Tuesday to Thursday

as an opportunity to take a call option trade for Friday which had a great return. I see INTC

ready to gain price and break out of the triangle. It has a P/E ratio much lower than some of

the high flyers in its subsector making it attractive to value-seeking investors and traders

who like to buy at the lows. Price is now above the long-term POC line where buying pressure

should predominate. Having seen the rise on Friday, some short sellers may begin to buy to

cover and close their positionons especially those with put options from which the time to

realize profits is now.

2024년 3월 5일

액티브 트레이드

Price popped out of the triangle ( proper spelling this time) and put in a 4% gain.
My trade is now risk free as the stop loss is above the entry price. Call option going
as expected. Will decide on Wednesday whether to roll it forward.

2024년 3월 6일

액티브 트레이드

Bought the dip on a down-market day. Wednesday might be a bounce. Watching.