$INTC had a bad week and the battle it had at the $24 went to the bears and once the 50 Day MA was lost the price sank hard.
The best case scenario is that $INTC holds support here on the 0.78 Fib at $20 and starts a reversal to the upside and the 1.618 Fib $33 is the next target
The worst case scenario is that there is a retest of $18 again and then a consolidation sideways along this line
I think $18 is a solid low bottom with anything below this line only lasting for a short period of time.
Dipen Patel
2024-12-08 19:05:40 +0000 UTC