Intel rises alongside downward correctional trend line - Analysis - 30-11-2021

Economies.com
2021-11-30 09:17AM UTC

Intel's stock (INTC) rose 2.5% in the last session amid positive signals from the RSI after reaching oversold levels, while trying to vent off oversold saturation from the RSI, and settling thereafter at 50.00, amid the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA.

 

Therefore we expect the stock to return lower, targeting the important support 47.85, provided the resistance of 51.95 holds on.

 

Expected trend for today: Bearish 

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