NFTRH+; INTC (Time Frame Confluence)

Folks, the market is over loved, unhealthy and… still bullish.  As long as that is the case we must accept it.  When the technicals turn, so will we.

In that regard, here is an updated view on one of the earliest + highlights, Intel, from June.  The big picture target from that update (when INTC resided at 27.63) was 40.  Well today in breaking above the recent high, it could be setting an objective of 40 by daily chart as well.  That is roughly the pattern measurement if this upward break holds.

intc

Buy:  If INTC holds the breakout line

Target:  40 +/-

Stop Loss:  Below the November low (around 33) or to suit risk tolerance

A reminder that chart based NFTRH+ updates are just trade setup ideas, which may not be revisited as the parameters are already noted.  They are meant as a starting point for further research if interested.  Fundamentals-based ideas are also provided for your further research only.