Looking at dailies, I suspect INTC continues to track SPY performance absent other news. Oct 16 to Mar '17 lows around 28.75 to 29.07 or so is a pretty good support zone. If that fails, next stops around 29.14 ~ 28.50, 27, and 25.75~25.50. Major crash or black swan news could see <20, though I hope things don't get that ugly.
Former support turned resistance at ~30 being the other side of that range. SPY goes sideways, it will too. SPY recovery bounces, first strong resistance ~30.50, then again at 31.81-32.25.
I'm bearish on the overall market in the next 6 months or more, so I'm bearish here, but INTC has taken an outsized beating relative to its 2016-2017 prices compared to other tickers. Can't tell you enough about fundamentals differences (P/E, production, marketshare, etc.) over that time to know to tell you how much weight that carries. Afraid I haven't seriously looked back at INTC since like the 1st since I've been underwater on some SPY puts until today. Just chewing my cuticles off crossing my fingers mostly.
Former support turned resistance at ~30 being the other side of that range. SPY goes sideways, it will too. SPY recovery bounces, first strong resistance ~30.50, then again at 31.81-32.25.
I'm bearish on the overall market in the next 6 months or more, so I'm bearish here, but INTC has taken an outsized beating relative to its 2016-2017 prices compared to other tickers. Can't tell you enough about fundamentals differences (P/E, production, marketshare, etc.) over that time to know to tell you how much weight that carries. Afraid I haven't seriously looked back at INTC since like the 1st since I've been underwater on some SPY puts until today. Just chewing my cuticles off crossing my fingers mostly.
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