Intel settles back in negative zone - Analysis - 19-10-2018

Intel's stock fell in the intraday levels, recording a new loss of 2%, or 0.92 points, while settling back below 45.41, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (from 33.23 to 57.60), with negative pressure from the 50-day SMA. 

Therefore we expect more losses for the stock, as long as it settles below 45.41, targeting the next support at 42.54, which represents the ratio 61.8% of the same retracement levels mentioned above. 

Expected trend for today: Bearish