David Vance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Intel Corporation stock price closed at $34.65, dropping 0.12% during the last intraday trading session.</a> </li> 
 <li> <span>2</span> <a>INTC stock slides down as CFO David Zinsner warns of Excess Data Center Chips inventories.</a> </li> 
 <li> <span>3</span> <a>Intel stock has plunged roughly 9% in the past three trading days.</a> </li> 
</ul> 
<p>Intel Corporation stock price gained bullish solid momentum during the end of August, rising from the support level of $32.50. The stock price formed an annual high at $40.07 on 12th September.&nbsp;</p> 
<p>INTC price faced strong rejection above $40, which induced a negative sentiment in the market. The stock price fell and created minor support at $37.60.&nbsp;</p> 
<p>Since the last three days, there has been a significant downfall after the break of support level of $37.60. The previous candle closed as a weak bullish candle with a long upper wick, forming a minor support at $34.50.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/Kvn8Hyl2tUhn9oNIaWjwL7ShjbI-0ahRqha0wQgJj115wuxAxpYodFi9yco0OmsirFS-2gz5v7jtkb7BAix4sydYQZrukuKfaQIMWOdr2aTmOkWblFkQYdjD8MEs-zvY5iN01e93FvZU8LU2l25A8gY" alt="Intel Corporation (INTC) Stock: All Went Well Until CFO Spoke"> 
  <figcaption class="wp-element-caption">
    Source: INTC Stock Price By <a href="https://www.tradingview.com/x/gs1LETC6/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>If the next candle can break the last candle’s low, there is a high probability for the INTC stock price to melt toward the next critical support level of $32.50. On the other hand, the stock price can consolidate and form a strong base before making any bullish move as the bearish momentum seems strong.&nbsp;&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-why-did-intel-stock-fall-strong"><strong>Why Did Intel Stock Fall?</strong></h2> 
<p><a href="https://www.thecoinrepublic.com/2023/09/13/intel-stock-will-the-rally-in-intc-stock-price-halt-near-40/" rel="noopener noreferrer nofollow">Intel</a> shares fell after the chip company commented cautionary on data center chip demand in a meeting with analysts connected with the Intel Innovation customer event in San Jose.&nbsp;</p> 
<p>Chief Financial Officer David Zinsner told investors that the channel inventory of data center processors is taking longer to clear than it did for the company’s PC processor business.&nbsp;</p> 
<p>Zinsner also stated that Intel will see “inventory digestion” in Q3 and likely in Q4 before seeing a turnaround in the data center business.</p> 
<p>Intel corporation expects the next generation of PCs to be capable of natively running AI inference applications. Executive at Dell Technologies DELL and HP Inc. (HPQ) have said that AI-capable laptops are coming in 2024, and Intel intends to help them get there.</p> 
<h3 class="wp-block-heading" id="strong-will-intc-price-continue-melting-strong"><strong>Will INTC Price Continue Melting?</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/E7HcxMFMhK2c9JGexk9wZEGR4x4OpXtDWOT8aJQ5HBrbgwJCT10570q73OxjvndmTvswJxqJpxUC7PyoJnn8Kwy6mntlE5uRbtFPsrAaXgCmiS00gReRQoO1H6x5FGWxp0aZ-GuMnED4phvaizaIdFw" alt="Intel Corporation (INTC) Stock: All Went Well Until CFO Spoke"> 
  <figcaption class="wp-element-caption">
    Source: INTC Stock Price By <a href="https://www.tradingview.com/x/cjrmaFf7/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The <a href="https://www.thecoinrepublic.com/2023/09/13/intel-stock-will-the-rally-in-intc-stock-price-halt-near-40/" rel="noopener noreferrer nofollow">stock price</a> has dropped below 20 and 50-day exponential moving averages, indicating a rise in sellers’ participation in the market. The relative strength index has also plunged below the 50 mark and currently stands at 41.45, suggesting bearish momentum in the price.&nbsp;</p> 
<p>If the bearish momentum continues, INTC stock price will soon enter in an oversold zone. Chaikin money flow score melted below the 0 mark and stands at -0.02, indicating slight weakness in the market.&nbsp;</p> 
<p>The Bollinger bands have expanded, indicating a rise in volatility. INTC stock price has dropped below the 20-day SMA of Bollinger and is now headed toward the lower band, which resides near $32.32.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>The current market structure shows a strong confluence of bears over the price. Traders looking for buying opportunities should wait for a strong base formation.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<p>Major support: $32.50 and $29.80</p> 
<p>Major resistance: $39 and $44.80</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Intel Corporation (INTC) Stock: All Went Well Until CFO Spoke

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Thecoinrepublic.com

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