For today's chart we've chosen to take a look at INTC because several technical indicators are suggesting that the recent rally may have a difficult time continuing. As you can see from the chart below, INTC has rebounded nicely since it found support near $19, but the story has now become the bulls' inability to push the price above the January high of $22.30. This failed break above the resistance is a technical signal that the bulls are lacking the conviction to send the price higher. We've also attached the Relative Strength Index and the Parabolic SAR indicators to the chart because we believe that many traders will use the bearish signals to confirm an expected pullback toward the support of the $20 level. We'll keep a short-term bearish outlook on this stock until the traders send the price above the swing high of $22.30.
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