At today’s lows INTC is down 35% from the April 2019 peak. The daily MACD indicator has not been this oversold since the Q1/2008 lows. The $43.50 to $42.00 area held important monthly lows in 2018, most notable was the Christmas week low($43.50). We previously mentioned the SMH, which is also very near a major support zone. A very low risk entry opportunity for this 2.8% yielder may be developing.
At time of publication we are long INTC in some managed accounts.