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On January 18 we mentioned that INTC gapped below its 200 DMA and that it closed the disastrous trading session near the support of its October lows (illustrated by the yellow line). Specifically, we noted that a move below this support would be used by the bears as a signal of a move lower, which as you can see from the chart below did indeed turn out to be the case. This chart is interesting again because it is currently testing another critical area of support - its October/November lows (illustrated by the white line). We'd expect to see the bulls start to step back in here and keep the price above the support.

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