Technical Analysis: Intel Is Trending Lower

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Recent sessions have seen fireworks in chip stocks like Advanced Micro Devices and Nvidia. The same cannot be said of Intel.

The semiconductor giant gapped lower on October 22 following weak revenue and guidance. It was the third straight bearish report this year.

INTC has snapped back from the drop but has now returned to potential resistance. After all, prices bounced around $52 in mid-August and mid-October before turning lower. Traders may look for …

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Intel (INTC), daily chart with selected patterns, courtesy of TradingView.
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