Intel stock price closes below key Fib level as downtrend eyes $18.75
Intel trades below 0.618 Fib level as downside risks grow toward $18.75 and $17.66
Intel Corporation (NASDAQ: INTC) closed slightly lower on June 2 at $19.52, extending its recent bearish trajectory that began in mid-May. The stock’s ongoing decline has pushed it below the 0.618 Fibonacci retracement level at $19.66, confirming a continuation of downside momentum.
Key highlights
- Intel closed at $19.54, down 0.36%, and broke below the 0.618 Fibonacci retracement level at $19.66.
- Downward channel structure remains intact, with key support at $19.00 and $18.75 next in focus.
- Momentum indicators remain bearish, though easing MACD suggests minor relief may precede further selling.
Bearish channel caps recovery attempts
The 4-hour chart reflects a well-defined descending channel, with price struggling to retest the upper trendline and encountering resistance near $20.40. The $21.00–$21.60 region remains a significant supply zone, where previous breakout attempts have consistently failed. Immediate support now rests near $19.00–$19.30, aligning with the lower boundary of the channel and key horizontal demand from March.
Intel stock price dynamics (Source: TradingView)
A failure to hold this level could accelerate losses toward $18.75, which marks the 0.786 Fibonacci retracement and the next major structural support. Below this, the $17.66 area may act as a final demand zone from earlier Q1 price bases.
Oversold indicators suggest limited near-term upside
The 30-minute RSI is currently at 36.45, signaling persistent bearish momentum, although it hovers near oversold territory. The MACD remains in a bearish alignment, but the histogram is beginning to show smaller negative bars, indicating a possible short-term pause in downside pressure. Despite this, the Ichimoku Cloud continues to show price below the Kumo across all intraday timeframes, suggesting trend confirmation remains bearish.
Outlook for June 3: INTC would need to reclaim the $20.00–$20.27 range and break above $20.51 to reverse the current tone. Until then, risk remains skewed to the downside. A close below $19.30 may increase the likelihood of a test of $18.75 in the near term.
Intel was previously noted for repeatedly failing at $22.50 and slipping below key moving averages. With the current decline pushing it under $19.66 and the EMAs still sloping downward, the downtrend remains intact. A move above $21.00 would be required to alter this bearish structure.
