INTC is forming a descending wedge with support at $30. This price action gives a chance for it to break down to 28.69.
I think the break down will happen after the NVDA split. Every stock that has made a major run into a split has sold off right after. With NVDA owning the entire Semiconductor sector I think this brings any weak stock down with it.
BUT......MACD and RSI say it's bound to go up. I would need to see it break above the AVWAP from the gap down from earnings to say it's bullish again.
I think the break down will happen after the NVDA split. Every stock that has made a major run into a split has sold off right after. With NVDA owning the entire Semiconductor sector I think this brings any weak stock down with it.
BUT......MACD and RSI say it's bound to go up. I would need to see it break above the AVWAP from the gap down from earnings to say it's bullish again.
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