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Today’s instrument is Intel Corp.’s stock traded on the Nasdaq exchange under the ticker INTC.

Looking at the INTC‘s chart, we see that it was lastly traded at around $30.

Last night it announced much worse than expected quarterly earnings with a forecast of lower sales due to the decreased demand for chips for PCs.

Today we should expect a sharp drop in the price, falling below its first support level which is located at around $28, with a possibility to approach its next support level at around $26.

Today, if it fails to continue that upward trend, then we could expect it to drop toward its support level at around $37, otherwise, it should rise toward its resistance level at around $41.50.

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