INTC Intel Daily Chart Death Cross

INTC prints a Death Cross with the 50-day MA stabbing down through the 200-day MA. One year ago, a death cross occurred and then last November a golden cross, where the 50 pierces up through the 200, and now  a death cross occurs again. The black dots show where price was at when the death cross occurred last year and as typically happens, price is recovering or about to recover when the death cross occurs. This is why the patterns receive a bad rap. However, note that a few weeks and months out, as long as the death cross remains in play, price will be lower and INTC fell to the late August low.

The golden cross occurred in November and as typically occurs, price is already pulling back down or about to come down, just as the cross occurs, and price does drop to a low in late November. However, weeks and a couple months later, INTC printed higher highs peaking at the end of last year.

For the current death cross, price has already been recovering for three weeks with the broad market. INTC may print an island reversal if price gaps up to 31.5 and higher tomorrow. There is a cluster of price action from January at 31.5-32.5 which may serve as a resistance ceiling going forward. There is a huge gap at 34 that will need filled some day in the future. INTC price should be lower than current levels a few weeks and months in the future as long as the death cross remains in play. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.