Intel Corporation – a short-trade
opportunity in
NASDAQ as per the chart.
U.S.
equity market was lower at the close on Friday, as losses in the Oil & Gas,
Technology and Industrials sectors propelled shares lower. And Intel
Corporation declined 3.89%
showing a short-trade opportunity for traders.
At the
close in NYSE, the Dow Jones Industrial Average down by 2.37%, while the
S&P 500 index decreased by 2.59%, and the NASDAQ Composite index lost
3.00%.
Biggest
losers in the index included Apple Inc, which lost 4.62% or 9.82 points to
trade at 202.64 in late trade. Intel Corp declined 3.89% or 1.82
points to end at 44.96 and American Express Company shares loss 3.65% or 4.46
points to 117.81.
US
STOCKS - Wall Street plunges as U.S.and China trade war intensifies.
Wall
Street tumbled on Friday after the U.S.and China trade war escalated in
dramatic style, with President Donald Trump demanding that American companies
to look into alternatives for doing business with China after Beijing announced
its response of retaliatory measures.
All
three major U.S. stock indexes down in the trading session sharply lower,
posting their fourth consecutive weekly declines.
The
latest exchanges in the long-running tariff row signaled a broad-based sell-off
that hit the stock shares of companies with high exposure to China the hardest,
such as chipmakers like Intel Corporation and other top technology names. Dow Jones
Industrials components Intel Corporation
and Apple Inc were down by 3.9% and 4.6%, respectively.
DATE
|
23-AUGUST-2019
|
PREV. CLOSE
|
46.78
|
OPEN
|
46.36
|
HIGH
|
46.64
|
LOW
|
44.79
|
CLOSE
|
44.96
|
VOLUME
|
32,817,083
|
Recommendation: As Intel
Corporation – a short-trade opportunity,
let's
try for a SHORT-TRADE till it bounces back from it’s
over-sold region or hits the stop-loss. Traders are advised to maintain
trailing stop-loss and take profits.
Trade
Table:
Date
|
LTP
|
Stop Loss
|
Support 1
|
Support 2
|
Support 3
|
23-AUGUST-2019
|
44.96
|
46.63
|
44.29
|
43.61
|
42.44
|
Intel
Corporation shares
Support 1, Support 2, Support 3 can be checked from Pivot Point Calculator.
If you want to see other stock recommendations and their reviews & performance, please Recent posts of Cisco Systems in correction mode and FACEBOOK STOCK IN CONSOLIDATION PHASE.
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