Intel

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

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) 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.

To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.

RELATED LINKS:



Follow Stockpickr on Twitter and become a fan on Facebook.
At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji is the editor and portfolio manager of the Rhino Stock Report, a free investment advisory that returned 15% in 2008. He is a contributor to numerous financial outlets, including Forbes and Investopedia, and has been featured in Investor's Business Daily, in Consumer's Digest and on MSNBC.com.

If you liked this article you might like

Snapchat Maintains Edge Over Instagram in U.S. Signups, But Not for Long

WhatsApp Rejects UK Demand for Access to Encrypted Messages

Facebook Could Be Back in China in 2018

Amazon, Google and Other U.S. Tech Giants Face a Battle Over Taxes With Europe

Facebook and Snap Have One Issue That Will Have to Be Solved: Peter Bonfield