Intel returns lower - Analysis - 06-08-2020

Intel's stock returned lower with a 0.21% loss in the last session while hurt by a negative pattern that formed recently in the short term, the Rising Wedge pattern, with negative pressure from the 50-day SMA, countered with positive signals from the RSI. 

Therefore we expect more losses for the stock, targeting the first support at 46.95, provided the resistance of 51.98 holds on. 

Expected trend for today: Bearish