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Nearest Resistance: $24.50
Nearest Support: $22.50
Catalyst: Technical Setup
>>12 Dividend Growth Stocks to Buy Now
Things are looking less bullish in chipmaking giant
Intel(INTC - Get Report) right now. The $121 billion semiconductor firm is down slightly today, facing selling pressure thanks to a bearish technical setup that's showing up on this stock's chart. Intel had been under pressure for the last few months, getting shoved lower alongside the rest of the chip industry. But shares broke below former support at $24.50 today, a move that points to additional downside in this stock.
With a dividend yield that's creeping higher, it may look tempting to buy INTC now that it's slid so much lower, but I'd recommend restraining the urge. With support a little ways away, that yield may get bigger before this stock finds a bottom.
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-- Written by Jonas Elmerraji in Baltimore.