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INTC Attempting to Rebound

Written By: ChartChamp

September 23, 2024

I have been extremely critical of Intel over the past few months, and there has been a strong selloff that to sub $20 price levels. Some of you have asked whether INTC is a buy at these very low price levels. I think there is news that is making INTC a more attractive investment opportunity. However, this morning we received news that the Qualcomm and Intel merger is not likely to occur. I think INTC is forming a range here, and is attempting to breakout above $21.97. If the price drops back down I would look for opportunities to buy around $18.86 if that support level holds.

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