In Nov 2003 INTC was near 34. Its progressive highs July 2005, 28; Dec 2007, 28; Apr 2012, 28;
But, while the highs seem to be capped at just under 30, the lows have progressively dropped.
Sep 2004, 20; Jun 2006, 17; Feb 2009, 13; If it is heading for a new lower low - it has a long way to drop.
A stock like this has been a short sellers dream. And, while this might be a nice entry point for a long term hold - given the dividend, I personally would wait for this to show some kind of decent upside strength before investing my money. Specifically, I would like to see it turn around sometime before 13.