Trading idea for Intel Corp. (NASDAQ)

Analysis based on modified Elliott waves, support and resistance levels, and price channels.

The overall trend is upward. The stock is trading in the range of 365 and 135 moving averages. The descending wave pattern is truncated. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator indicator an oversold condition.

Trading idea:

Buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending truncated pattern.

Stop Loss: under the local low of the truncated pattern (62.18).

Target levels: 66.20; 68.40.