Intel pierces downward trend line - Analysis - 14-11-2022

Intel's stock (INTC) rose in the intraday levels after the share was considered below true value by JPMorgan Chase, with the stock rallying 2.25% in the last session, or 67 points, settling at 30.43, with trading volumes surpassing 49.8 million shares, above 10-day averages of 45.2 million shares.

Technically, the stock managed to pierce the downward short-term trend line, while also piercing the resistance of the 50-day SMA, shaking off negative pressures, amid positive signals from the RSI.

Therefore we expect more gains for the stock, targeting the first resistance of 31.86, provided it settles above 29.22.

Expected trend for today: Bullish