The recent 18% rebound in Intel (INTC) from last Friday, 17 July 2026, low of 89.59, is showing signs of bullish exhaustion. Wednesday, 22 July’s price action has formed a daily bearish reversal “Shooting Star” candlestick just right below a moving average bearish crossover condition (20-day below 50-day) (see Fig. These observations suggest that Intel's prior outperformance over the S&P 500 is losing momentum, and that Intel may be on the brink of underperforming over a multi-week perspective. Watch the 120.35 key medium-term resistance on INTC, and a break below 89.59 intermediate support may reinforce the multi-corrective decline sequence towards the 68.85 medium-term support (also coincides with the key 200-day moving average) in the first step. On the other hand, a daily close above 120.35 invalidates the bearish tone, paving the way for a bullish revival to retest the current all-time area of 141.45 before the next medium-term resistance comes in at 175.20 (Fibonacci extension).