Eric wants to know if I think Intel is due for a bounce. My answer is ‘probably’. Although I see little in the chart to make me bullish I can see Intel moving back toward 19. Sellers appear to be exhausting themselves around the 18 level. The stock is oversold on the weekly (and slower daily stochastic setting than I use.) Still, there’s plenty of overhead resistance to work through and I think the easier play is to short it near the top of the channel.

Here’s the weekly chart: