Intel Corp (INTC) – Semiconductor Bust – November 10th, 2020

The bearish DailyPlay for Tuesday, November 10th is Intel Corp (INTC). INTC has declined 14.95% in the last month and 1M and 6M trends turned bearish on October 23rd. 

Fundamental View

  • Price erosion across PC and data center provide downside risks of key revenue drivers
  • Apple’s adoption of ARM based chips alongside 7nm execution stumble dims short term prospects
  • Earnings Jan 21st 2021 (72 days)

Technical View

  • Broke below and retested the previous $47 support level turned resistance.
  • Very weak relative strength score (1 out of 10)
  • Both 1M and 6M trends are bearish