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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.