Intel driven lower by negative technical pattern - Analysis - 09-02-2024

Economies.com
2024-02-09 11:19AM UTC

Intel Corporation’s stock (INTC) fell in the intraday levels, amid the dominance of the downward correctional wave in the short term, while hurt by piercing the negative pattern formed in the short term, the Double Top pattern, while also suffering negative pressure from the 50-day SMA.

 

Therefore we expect more losses for the stock, targeting the pivotal support of 41.17 as a price target for that Double Top pattern.

 

Expected trend for today: Bearish 

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