In most of the lows, the retest will occur within a couple of weeks to form a double bottom.
The last significant low occurred on Aug 19, 2011. The retest occurred on Sept 6, 2011. What is interesting is that the low for both of these days was exactly 19.16 to the penny!
If INTC does have to retest last week's low, it would be the perfect opportunity to add to your long position.
I'm waiting for tomorrow, if it gets close to $19.23, I will definitely add.
I would be surprised if it did go that low as most weak hands have already sold. But if it did, I agree, great time to buy.
The big buyers are not going to start buying until they have assurance that the bottom is in.
The best thing for INTC would be to drop down to last week's low and then bounce above 20.
If the bottom holds, this could easily see 23 by EOY.