Intel - trading idea 03/14/2018

Checking on the volume of Intel last few days have been higher and since it is a stock with very good fundamentals, I think it is a good stock to review for possible traders.  First lets check on the trend on the daily and monthly chart.

Currently the price is way over the 200 MA and the Ichimoku cloud on the both charts. Which indicate us the bullish trend. Also looking at the daily chart at the beginning of the month there was a breakout of the 50$ level with increasing of the volume. So the trend is bullish, no lets find a good entry point. I will use the monthly pivot points on the daily chart for finding the stronger support and resistance levels.

X Scalper

R2 R1 PP S1 S2
midpoint midpoint midpoint midpoint
54.71 53.97 53.24 52.78 52.32 51.58 50.85 50.39 49.93

Currently the price is over slightly below the PP level and considering the bullish trend, I think that we are in the buying zone. Looking at the chart with the pivot points levels, there is a nice decline on the PP level and checking on the lower levels - S1 and S2 should be very good entry opportunities considering that they were acting as a support level before.  I think that opening a trade at S2 could be more secure and setting up the target profit at the PP level - 52.32$

Please note that this is my view of the chart and you should trade responsible.