Intel Corporation (NASDAQ: INTC) is trading around the $94-$98 range, experiencing mild intraday fluctuations due to a broader semiconductor sector sell off. Despite the broader market dip, the stock is receiving strong analyst support of the upcoming Q2 earnings report scheduled for July 23.Wall street sentiment remains largely optimistic regarding the company's turnaround and its foundry business.
Technical Outlook:
Stock recently broke below a significant support area, between $98-$100. We can spot a partial formation of Double Top Chart Pattern, giving further signals for short, in respect to the structure. Price has retested, as there is possibility of bearish continuation.
Key Points:
More reverse confirmation below the support level, activates a sell position down to $79, as next potential bearish.
Thanks for reading.
Technical Outlook:
Stock recently broke below a significant support area, between $98-$100. We can spot a partial formation of Double Top Chart Pattern, giving further signals for short, in respect to the structure. Price has retested, as there is possibility of bearish continuation.
Key Points:
More reverse confirmation below the support level, activates a sell position down to $79, as next potential bearish.
Thanks for reading.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.