Intel breaking out

٨ أكتوبر ٢٠٢٠

Technical Analysis

• INTC breaking out of a consolidation channel after its drop due to disappointing earnings.
  
  
• RSI confirming breakout; at 62.
  
  
• Intraday volume is above its 10sma average.
  
  
• 200sma lining-up with previous tested support. Breaking this resistance, would take us into next parallel channel.
  

Attractive risk-reward-ratio at 2.5, placing a stop-loss just below channel top, and profit-exit around the 200sma.