Intels stock price (INTC) fell in the intraday levels amid the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA, coupled with a spike in trading volumes even as positive signals streamed out of the RSI after reaching oversold levels.

Therefore we expect more losses for the stock, targeting the support of $32.15, provided it holds below the resistance of $40.00.

Expected trading range: between the support of $32.15 and the resistance of $40.00.

Trend forecast: Likely Bullish