Holders of $INTC are likely frustrated by the double gap down. First, a large drop happened in July, followed by another one in October. Worst yet, the stock seems stuck underneath a downward trendline since reaching $65 back in June. There are a couple pieces of good news, however. First, the stock clearly found a “floor” at the $45 level. This leaves a perfect location for a stop-loss if you’re long, or a potential entry point if you’re watching from the sidelines for now. Second, it is well known that stocks like to “fill gaps.” This means that the stock is likely to at some point retrace upwards to fill the recent gaps. We’ll keep watching this one close!
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