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News Breaks | | | | November 20, 2012 | | 10:34 EDT |  | INTC | Intel falls to a new 52-week low, levels to watch
The shares slipped further into negative territory this morning, and marked a fresh 52-week low at $19.55 before bouncing slightly. Looking ahead, a big test of support would be at 2-year lows at $19.16. There is a range of support at that area from the summer of 2011 that is worth focusing on. Back then, a successful test of support at that area lead to a very strong rally, culminating in the peak reached in May of this year. If the shares test that area successfully again, it could presage a move higher over time. A breakdown below that support area though would have strongly bearish implications. On a break below $19.16, next support would be at $18.41, and then at $17.60, the 2010 low. Resistance is at $20.36, the 10-day moving average. | |
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