Intel Wave Analysis 19 April 2024

– Intel broke support zone

– Likely to fall to support level 32.50

Intel continues to fall inside the sharp minor impulse wave 1, which previously broke the support zone lying at the intersection of the two daily channels from December and February of 2023.

The active impulse wave 1 belongs to the higher order impulse wave (3) from the start of March .

Give the earlier breakout of the strong support at 34.95 (top of the upward gap from October), Intel can be expected to fall further to the next support level 32.50, which has been reversing the price from August.