Read the Intel full article at : http://elliottwave-forecast.com/latest-home/intel-slow-growth/
Intel stock is traded in The NASDAQ Stock Market which was hit hard in the 2000 dot-com bubble crash , after that INTC kept going lower as the Corporation struggled in front of its major competitors like AMD , Nvidia , Samsung , Toshiba ect … However after the 2008 financial crash INTC found a bottom in 2009 at 12.05 and started correcting the cycle from the 2000 peak , since then the stock did 3 waves bounce to the upside reaching 37.9 in late 2014 before pulling back in 3 swings and holding the 2009 trend-line to start rallying.
Last Friday (09/16/2016) INTC broke above the 2014 high making the sequence incomplete with 5 swings and calling for more upside to reach at least 50%-61.8% Fib retracement ( 43.83 – 51.36 ) , many of the Nasdaq components already retesting / breaking the 2000 high while Intel slow growth kept it around the 38.2% Fib retracement !! So the upside for INTC looks to be limited as it will be ending 5 or 7 swings around a selling area which will drive it lower one more time as presented in this monthly chart.
Continue reading the full article at : http://elliottwave-forecast.com/latest-home/intel-slow-growth/