Intel quotes continue to move within the fall and left the limits of the bullish channel. Moving averages indicate the presence of a short-term bearish trend for INTC. Prices are testing the area between the signal lines, which indicates pressure from sellers of securities. At the time of publication of the forecast, the price of Intel shares is 55.98. As part of the forecast, we should expect an attempt to develop a price rise and a test of the resistance level near the area of 60.55. Then, a rebound and a continuation of the fall in the value of securities. The potential target of such a movement is the area below the level of 45.00.
An additional signal in favor of falling Intel quotes will be a test of the resistance line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the option of falling quotations of Intel's share price will be a strong growth and a breakdown of the level of 63.55. This will indicate a breakdown of the resistance area and a continuation of the rise to the area at the level of 72.00. We should expect an acceleration in the fall of shares with a breakdown of the support area and a close below the level of 52.00, as we can see, now this is a serious support area for buyers of securities.
Intel shares forecast for July and August 2021
Thus, the Intel stock forecast for July and August 2021 suggests the development of a correction and a test of the resistance area near the level of 60.55. From where we should expect a rebound and an attempt to continue the pair's fall to the area below the level of 45.00. A trend line test on the relative strength indicator will be in favor of the fall of the currency pair. The cancellation of the INTC decline option will be a strong growth and a breakdown of the 63.55 level. This will indicate a breakdown of resistance and a continuation of the price's rise to the area above the 72.00 level. As you can see, the technical analysis of Intel shares indicates the probability of a fall from the current levels within the rebound of the RSI indicator values from the resistance line.