Intel Stock Could Consolidate
| Jan 27, 2022 05:29AM ET
When we look at the Intel Corporation (NASDAQ:INTC) chart, we can see it trading a downtrend as the overall market sentiment continues to worsen.
We can see the fall from the $54 level to $52.50 on Jan. 22 and then down to $50, where it formed to support and led to the subsequent bounce back up to the $52 range combined with positive Q4 earnings results.
It was last found trading at $51.61 with the closest overhead resistance of $53 and support at $50. Today we can expect a move towards the $53 resistance or consolidation at the current level.
If it doesn’t manage to hold on to the current level, a move towards and below the $50 can be expected.
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