SHORT (SELL)
TP
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โบ We are currently not seeing healthy market breadth, as mainly chip stocks are trading higher (and, as we predicted, TSLA & SPCX as well) and supporting Wall Street. NVDA, however, is trading about 1.7% lower, seeing some profit taking after its recent sharp gains as well as a slight rotation into AVGO, INTC, AMD, and other AI chipmakers, including LRCX and QCOM. Memory stocks are also trading higher.
โบ INTC is up almost 10% after reports emerged that the US chipmaker plans to raise prices. In addition, Northland upgraded Intel from โMarket Performโ to โOutperform,โ also pointing to a shortage of server CPUs as demand for CPUs in AI solutions has increased rapidly. INTC is indeed in a very strong position - also as a US chipmaker and given its high production capacity.
โบ Nevertheless, we expect some cooling from here and are once again making a trade against the market, with INTC currently trading near 105.00, or about 9.7% higher.
โบ Concerns about still-elevated oil prices, rising inflation, and potentially higher interest rates overall continue to weigh on Wall Street.
โบ We are once again making a trade maximally against the market here and see temporary resistance around 105.00.
Intel (INTC): Multiply your โstandard (EUR/USD)โ position size by approx. 180โ200x (18,000%โ20,000%) โ 1/2 position size.
position code / 100% Transparency - 26090805A
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INTC is up around 10% - we expect a bit of cooling before session end.
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