Downward move becomes weaker, long entry

After earnings Intel dropped in an overreaction and this seems to be a cheap entry point.

Today it hit the weekly MA 200 and bounced back.

RSI is in oversold territory.

dropping volume and macd indicate that the sell off has lost it's power

Next support is the MA 50 of the monthly chart.

Took a long position right before the bell with the following plan:

TP1: 52.09
TP2: 56.74
TP3: 61

SL: 45.13

Might take a while but patience gets rewarded quite often.

Сделка активна:

TP1 reached