The big chip companies are feeling the pressure and it is setting up some great potential put trades. But they aren’t going down without a fight. Today we are looking at a ticker that is sweating out pressure on raising capital to keep up with demand along with a big influx of new shares that cheapened the stock.

With the AI darlings not really able to push to the next level, stocks like this one will be in this ugly consolidation for a while, so we need to be ready to trade it.

This chart shows the key levels to watch and what will signal the next drop so you can set up a trade to exploit the move.

Intel (INTC) remains under bearish pressure after closing at $87.26 on heavy volume. The stock is trading below its 8-, 21- and 55-day moving averages, while the PPO has crossed lower and selling pressure continues to outweigh buying pressure. Watch for a decisive break below support near $85, which could open the door toward the $79.50 area. Alternatively, a weak rebound that stalls around $89–$90 may offer another bearish signal. A move back above the 8-day moving average near $93.65 would weaken the bearish outlook.

Wishing you the best,

Wendy Kirkland