Intel may fall to 12.00 - 13.80

Our pivot point is at 22.9.

Our preference

The downside prevails as long as 22.9 is resistance.

Alternative scenario

The upside breakout of 22.9 would call for 26.2 and 28.1.

Comment

The RSI is below 30. It could either mean that the stock is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 31.5685 and 31.1208). Finally, Intel is trading below its lower daily Bollinger band (standing at 23.39).

Supports and resistances

28.1 **

26.2 *

22.9 **

21.6

20.11 (USD-last)

15.6

13.8 **

12 *

10.2 **

Number of asterisks represents the strength of support and resistance levels.