$INTC 107.75 After the wave surged and then dropped hard, the price couldn’t even climb back above the 104 level. For this kind of weak market where it can’t rise, it’s clearly more cost-effective to take a stab at a short rather than stubbornly waiting for a breakout.
$INT - Sell Short
Trading Plan:
Entry: 103.60 - 103.90
Stop Loss (SL): 105.50
Target 1 (TP1): 101.50
Target 2 (TP2): 100.00
Target 3 (TP3): 97.50
Why Short?
After 107.75 met resistance and pulled back, the rebound strength is clearly weak now. Repeated tests around 104 keep failing to break through, which suggests that the supply from above hasn’t been fully absorbed. Volume has been shrinking all along, indicating there’s basically no fresh incremental capital coming in to take the orders. As long as this weak structure doesn’t manage to regain 105.5 and hold with increased volume, this bearish, slow drift downward structure will most likely seek support around 101.5 or even deeper—while the short’s risk/reward ratio still remains favorable.
Click here to trade👇$INTCB
$INT - Sell Short
Trading Plan:
Entry: 103.60 - 103.90
Stop Loss (SL): 105.50
Target 1 (TP1): 101.50
Target 2 (TP2): 100.00
Target 3 (TP3): 97.50
Why Short?
After 107.75 met resistance and pulled back, the rebound strength is clearly weak now. Repeated tests around 104 keep failing to break through, which suggests that the supply from above hasn’t been fully absorbed. Volume has been shrinking all along, indicating there’s basically no fresh incremental capital coming in to take the orders. As long as this weak structure doesn’t manage to regain 105.5 and hold with increased volume, this bearish, slow drift downward structure will most likely seek support around 101.5 or even deeper—while the short’s risk/reward ratio still remains favorable.
Click here to trade👇$INTCB