Intel settles in negative zone - Analysis - 12-10-2018

Intel's stock kept falling in the short-term trading, recording a new loss of 1.27% in the last session, or 0.57 points, while settling below the resistance of 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, coupled with negative signals from the RSI. 

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