Wednesday, June 30, 2021 1:27 PM EDT
Leading semiconductor stock, Intel Corp (INTC) is weak again today. The popular semiconductor stock is trading lower by 2.08% to 55.57 a share. Intel Corp (INTC) stock topped out on April 12th, 2021 at $68.49 a share. Since that pivot high, the shares have steadily declined and are now flirting with the 200-day moving average. This daily chart pattern indicates weakness and possible lower prices ahead.
Intel Corp (INTC will have several minor support levels coming up, but the next major level is still much lower. Traders should watch for major chart support around the $48.00 area. This is where the stock was defended in late December 2020. Often, when major reversal levels are retested they will be defended again by the institutional crowd. This would be the only level where I would get interested in a long trade in this popular semiconductor stock.
Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as ...
more
Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. InTheMoneyStocks, LLC and its representatives assume no responsibility for your trading and investment results. All information on the website was obtained from sources believed to be reliable., but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. InTheMoneyStocks, LLC, its employees, representatives and affiliated individuals may have a position or effect transactions in the securities herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves a very high degree of risk. Futures and Options trading are not suitable for all investors. Past results are not indicative of future results. InTheMoneyStocks, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment results.
less
How did you like this article? Let us know so we can better customize your reading experience.