Just when you thought things were getting better ....They get worse.
Is there a pattern here? Only greater fools pay more than $19 for INTC, especially when nobody's buying PC anymore. Say good bye to that dividend, after which INTC should be where it belongs, $12. :
every prior time that INTC rallied, the markets as a whole were oversold, ie back in June, the qqq were at rsi 30, ditto INTC, the rally up in INTC stopped, the rally to higher highs in the QQQ did not.
each recent oversold rsi 30 bounce in INTC has led to only a bounce, then a lower low, creating massive overhead resistance at all those this is the Bottom calls of Wally's who would love to get back out. At current price levels, the SMH is not down at rsi 30, nor is the QQQ.