Stock Analysis:-Best swing trade stocks under $50 – Intel Corporation (INTC).
CHECKOUT HERE :- Next Good Swing Trade Stocks With Target & Stop Loss
Swing trading is one of the most popular strategies for traders who want to take advantage of short- to medium-term opportunities in the market. If you are looking for best swing trade stocks under $50, Intel Corporation (INTC) could be a great candidate. Let’s dive into the detailed analysis of Intel’s stock and explore a potential trade plan.
On Friday, September 20, 2024, Intel Corporation (INTC) closed at $21.84. We will break down this stock’s movement across different time frames to identify potential swing trade opportunities for the coming weeks.
Monthly Time Frame Analysis
Starting with the monthly time frame, Intel Corporation (INTC) is displaying a strong bullish trend, consistently forming higher highs (HH) and higher lows (HL) on the chart.
As of the latest data, the monthly candle is testing a strong demand zone around the $17 – $22 price range. This zone has historically acted as a critical level of support, and the current price action suggests the possibility of a bullish bounce from this area.
A harmonic bat pattern also completes within this demand zone, adding to the bullish outlook. When combined with a bullish RSI divergence on the monthly chart, these factors strengthen the case for a reversal to the upside.
The next phase of the bullish cycle is anticipated, which could lead to price testing higher levels in the coming weeks.
Weekly Time Frame Analysis
Looking at the weekly time frame, Intel’s stock has been consolidating around the demand zone mentioned earlier, with the latest candle showing ultra-high volume at the same level.
This typically signals accumulation by larger players, hinting at an imminent bullish move. As the price has continued to respect the $17 – $22 demand zone, we expect it to begin targeting unmitigated supply zones higher up on the chart.
The first supply zone is around $32, and the second is near $40. These zones offer potential profit-taking areas for traders looking to capitalize on a swing trade. If Intel continues to gain momentum, these levels could serve as key targets.
Risk Management and Trade Setup
While the bullish setup appears promising, it’s essential to manage risk properly. If the stock breaks and closes below $16, this bullish setup becomes invalid, and further downside could follow.
CHECKOUT HERE :- Next Good Swing Trade Stocks With Target & Stop Loss
Buy Swing Trade Idea:
- Buy Entry Range: $21 – $19
- Stop Loss: $17
- Target 1: $30
- Target 2: $34.50
Intel Corporation offers a prime candidate for those looking for the best swing trade stocks under $50, given its technical setup and the potential upside within the current price range.
Conclusion
For traders seeking opportunities among the best swing trade stocks under $50, Intel Corporation presents a solid case with a defined risk-to-reward ratio.
With strong technical indicators such as the harmonic bat pattern, bullish RSI divergence, and volume signals in play, a well-structured swing trade plan targeting higher supply zones can yield substantial returns. However, always ensure to manage your risk with proper stop loss levels, especially if the stock breaks below key support levels.Intel stands out as one of the best swing trade stocks under $50 for the coming weeks.
Read More Information About US Stock Market
Note: Always remember: risk no more than 1% per trade.” Keep trailing your stop loss to secure bigger profits.
Please note this is only an opinion and not financial advice.
To get regular updates on stocks, please join our Discord community.
Our Articles on Long-Term Stock Analysis My best read on trading is this Book All Swing Trades Idea’s Here