Intel may fall to 12.20 - 14.30

23.7 is our pivot point.

Our preference

The downside prevails as long as 23.7 is resistance.

Alternative scenario

The upside breakout of 23.7 would call for 27.2 and 29.3.

Comment

The RSI is below 50. 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 25.157 and 29.2448).

Supports and resistances

29.3 **

27.2 *

23.7 **

22.3

20.87 (USD-last)

16.3

14.3 **

12.2 *

10.2 **

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