To: Johnny Canuck who wrote (59560 ) 8/2/2024 4:01:47 AM From: Johnny Canuck Read Replies (1) | Respond to 3 In this article: Source: TradingView.com Intel shares plunged 19% in extended trading Thursday after the chipmaker reporter results that missed Wall Street’s estimates, issued soft guidance and unveiled a $10 billion cost-cutting plan that includes slashing 15% of its workforce. Monitor these crucial chart levels. The stock has continued to trend sharply lower on above-average volume since breaking down from an ascending channel in April. Intel shares may attract bargain hunters at historically significant price levels including $26, $20, and $13. reported quarterly results that missed Wall Street quarterly estimates, issued soft current-quarter guidance, and unveiled a $10 billion cost-cutting plan that includes slashing 15% of its workforce.loss-making foundry business, as it aims to capture market share from contract silicon giant Taiwan Semiconductor Manufacturing Company (TSM).broader selloff for chip stocks.ascending channel in April. More recently, an attempt by bulls to reclaim the 200-month moving average in July proved futile, with the stock closing near its monthly low.trading volume has accompanied the decline, indicating conviction by larger market players.horizontal line that links multiple peaks and troughs from March 2005 all the way to March last year.psychological round number and an important trendline that connects a range of comparable price action from the height of the dot-com bust in September 2001 through to February 2013.great recession between 2008 and 2009.oversold readings in the relative strength index (RSI) . The last time the indicator bottomed out below the 30 threshold in September 2022, Intel shares rallied around 95% over the following 15 months.The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info. As of the date this article was written, the author does not own any of the above securities. Investopedia .&soc_src=social-sh&soc_trk=fb&tsrc=fb] &url=[state.currentArticleUrl]&soc_src=social-sh&soc_trk=tw&tsrc=twtr] &body=[state.currentArticleUrl]&soc_src=social-sh&soc_trk=ma]
