Today’s instrument is the Intel Corp.’s stock traded in Nasdaq exchange under the ticker INTC.
Looking at the INTC‘s chart, we see that it was lastly traded at around $30.
Last night it announced much worse than expected quarterly earnings with a forecast of lower sales due to the decreased demand on chips for PCs.
Today we should expect a sharp drop of the price, falling below its first support level which is located at around $28, with a possibility to approach its next support level at around $26.
Today, if it fails to continue that upward trend, then we could expect it to drop towards its support level at around $37, otherwise it should rise towards its resistance level at around $41.50.
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