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Intel Corporation (INTC) “On a long-term technical basis, the stock (INTC) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has broken through an important trendline at 60.98 suggesting the next level of support is 58.52. The long-term uptrend has now turned neutral.
The stock has support at 58.52 and 55.08. If the stock breaks down through support at 58.52 then it will probably continue lower to 55.08. The stock will meet resistance at 59.13 and 65.26. If the stock breaks up through resistance at 59.13 then it will probably continue higher to 65.26. The 200-day moving average is at 55.08. This will also act as support. If the stock closes below 56.70 a negative trend change is probable. Look for the stock to fall to the 200-day moving average at 55.08. The stock is extremely overbought according to the Stochastic Indicator (75.18), so look for a possible pullback soon. Confirm this with the Short-Term and Daily Opinion to keep from exiting prematurely.”
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