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.
- 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)
- 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