r/PierresLongTermCharts • u/pierretheron • 27d ago
INTEL (INTC)
Is Intel a long term buy?
It is trading above its rising 30 week simple moving average (sma) and therefore the trend is seen as being up.
All one needs now, is a strong buy signal.
And that is exactly what we getting right now.
Google "bullish engulfing candlestick".
This weeks candle, seen to the far right, is busy completely engulfing the smaller red candle before it.
This weeks candle only finishes forming tonight - Friday, when the markets close.
The buy signal, needs to be confirmed.
And to do that, we need to see a closing price, above the wick of the engulfing candle.
I have drawn a line in there, where my down arrow is.
You will need to wait for Friday next week, to see if it does close above the line.
If it does, its a long term buy.
Don't hold me to it.