Intel may rise to 33.60 - 34.40

Our pivot point stands at 29.7.

Our preference

Short term rebound towards 33.6.

Alternative scenario

The downside breakout of 29.7 would call for 28.4 and 27.7.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the share stands above its 20 day moving average (30.667) but below its 50 day moving average (31.2418).

Supports and resistances

35.2 **

34.4 *

33.6 **

32.9

30.97 (USD-last)

30.2

29.7 **

28.4 *

27.7 **

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