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Intel's Q1 2021 financial report has been released. What are the highlights?
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Is Intel in Trouble?

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SpyderCall joined discussion · Apr 7 03:01
Big Red Week for Intel
Intel experienced a sharp selloff last week after reporting billions in losses from its foundry business. Apparently, investors didn't like the headlines.
Is Intel in Trouble?
Head-and-Shoulders Pattern?
The selling corresponds with the price breaking down below the neck line of a head-and-shoulders pattern as well as a long-term Fib level. There was high volume associated with the selling. This adds validity to the bearishness. Bearish candlestick patterns like this near 52-week highs are always worrysome. The technical picture is starting to look more bearish.
Is Intel in Trouble?
Lower Highs?
Technically, the price is still in an upward trend. But if the current selling continues, then we might see lower highs print on the long-term timeframes. This would be very bearish.
Is Intel in Trouble?
Strong Uptrend
Even with all of the selling last week, INTC is still in a technical uptrend within the price channel you can see in the chart below. This uptrend is still in play until the price drops below the lower support level of this channel.
Is Intel in Trouble?
Possible Support Zone
If we don't see a rebound off of the long-term trending support I have mentioned, then there are a couple of horizontal support levels just beneath.
Is Intel in Trouble?
When is it Time to Buy the Dip?
The selling last week was very scary. I don't blame investors for selling the negative news as this company is being traded at over a 90 P/E ratio. With a high valuation like this, I think any negative catalyst like that will instigate a lot of selling. But the uptrend is still holding. If and when the price action drops below long-term trending support, then we can consider a possible change in the trends.
Is Intel in Trouble?
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