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Intel Corp., Elliot Wave Analysis

1/13/2023 10:16 AM

The price is in a correction, a fall is possible.

On the daily chart, a downward correction of the higher level develops as the second wave (2), within which the wave C of (2) forms. Now, the third wave of the lower level iii of C has ended, and a local correction is developing as the fourth wave iv of (v), within which the wave (b) of iv ended, and the wave (c) of iv is forming. If the assumption is correct, the price of the asset will fall to the area of 22.00–17.00. In this scenario, critical stop loss level is 36.67.

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