The share price of Intel Corp has fell 56% since January 2022. However, RSI suggests the market is oversold, hence a short-term bounce higher may arise.

From a technical aspect and looking at the chart for Intel Corp, its share price has been falling for some time. Currently trading at $25.30 compared to $58 per share at the start of the 2022 year (a 56% fall). Additionally, Intel has announced that it plans to cut staff numbers by thousands as the PC slowdown puts more strain on the business. However, technical indicators suggest that the market is oversold, hence a short-term buy opportunity could arise. RSI reads 29 suggesting oversold and MACD appears to be neutral. Towards the upside, the resistance sits at $26.63 followed by major resistance at $27.90. A break above the major resistance could see the stock climb above the moving average of the Bollinger bands, creating further gains in the short-term. On the downside, major support sits at $24.07. A break below the major support level, could see the stock slide much further reaching some of its very lows in over 8 years.