Intel settles anew at negative zone - Analysis - 17-01-2019

Intel's stock fell 0.97% in the last session, or 0.47 points, settling anew below 48.30, which represents the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the medium term (from 33.25 to 57.60), while trading alongside the downward correctional trend line in the short term, with negative signals from the RSI after reaching overbought levels compared to the stock's movements, countered with positive support from the 50-day SMA. 

Therefore we expect more losses for the stock, as long as it settles below 48.30, targeting the support of 45.42, representing the ratio 50% of the same retracement levels. 

Expected trend for today: Likely Bearish