Intel shares erased early gains and turned lower as sellers targeted key support levels following a brief 4% pre-market surge.
Intel’s stock reversed course after an early 4% pre-market rally, closing the gap-up and signaling short-term bearish pressure. The Structure Read score fell to -5 on a -10 to +10 scale, indicating seller control unless buyers reclaim $117.00 and push toward $118.50.
The stock had surged over 500% in the past year and 110% in one month, making it highly sensitive to failed upside attempts. Key support now sits at $116.05, with a break below risking a deeper pullback. Recovery above $117.00 would ease immediate pressure but requires sustained strength above $118.50 for bullish momentum.
Traders are watching these levels closely after the stock’s rapid ascent, which heightened vulnerability to profit-taking and technical reversals.