Intel Short Term: the RSI is oversold
Apr 27, 2024 05:34
Intel (INTC.US)
-0.65-2.12%
the downside prevails as long as 34.1 is resistance.
Our pivot point stands at 34.1.
Our preference: the downside prevails as long as 34.1 is resistance.
Alternative scenario: above 34.1, look for 36.5 and 37.9.
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 negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 37.0865 and 40.8738).
Supports and resistances:
37.9 **
36.5 *
34.1 **
33.2
31.88 (USD-last)
27.9
26.6 **
25.2 *
23.8 **
Our preference: the downside prevails as long as 34.1 is resistance.
Alternative scenario: above 34.1, look for 36.5 and 37.9.
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 negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 37.0865 and 40.8738).
Supports and resistances:
37.9 **
36.5 *
34.1 **
33.2
31.88 (USD-last)
27.9
26.6 **
25.2 *
23.8 **
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