Swing Trade Idea (INTC) – June 15, 2021
Our Bullish trade for Tuesday, June 15th is INTC (Intel Corp). INTC is part of the Technology Sector (XLK). XLK has experienced a 7.8% gain in the last month as price recovers after selling off.
INTC’s 1M turned bullish on June 11th and has recently broken above the $58 resistance level. With a technical score of 6 (out of 10), INTC is a neutral stock that will likely move higher.
As a stop loss, if INTC were to trade below $56.00 for multiple days, this would invalidate our analysis and focus cutting losses on the trade. We also would consider cutting losses on this options trade if the value of the vertical spread moves below $1.18.
