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Look for Shares of Intel Corp to Potentially Rebound after Yesterday's 2.03% Sell Off

By Shiri Gupta

Intel Corp (NASDAQ:INTC) traded in a range yesterday that spanned from a low of $56.28 to a high of $56.86. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $57.47 on volume of 1.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Intel Corp has traded in a range of $42.86 to $59.59 and is now at $56.49, 32% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

SmarTrend is tracking the current trend status for Intel Corp and will alert subscribers who have INTC in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders intel corp

Ticker(s): INTC