Intel regains footing - Analysis - 22-07-2019

Intel's stock returned higher with the support of the 50-day SMA, amid the dominance of the upward short-term trend, readying to tackle the resistance of 51.20, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the medium term (from 59.54 to 42.83). 

Therefore we expect more gains for the stock, especially if the resistance of 51.20 was breached, targeting the next one at 53.16, representing the ratio 61.8% of the same retracement levels. 

Expected trend for today: Bullish