INTC - post earnings depression

Whilst the main market closed moderately lower, there was very significant weakness in Intel (INTC), which settled -4.2% @ $32.20. The low $33s look due, with key support of the 50/200dma in the 32/31s. Any price action <30 looks out of range, as the broader market looks strong.


INTC, daily

INTC, monthly

Summary

Earnings weren't exactly inspiring, but neither were they disastrous.

From a pure price perspective, INTC could easily fall another 3-5% across the next 2-4 days, but the $30 threshold looks very secure.

Long term upside to the $40s and 50s look due, not least if sp'2400/2500s by late spring 2017.