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$INTC . The comeback story of the year just printed the pattern comeback stories fear most, and today it's standing on its last good support.
The run was historic. 35 in December, 141 by late June. A 4x in six months on the biggest news flow in the stock's modern history, including that April gap that repriced it 23% overnight.
Then the top. 141.45 on June 22. A retest at 142.35 on June 30. Double top, eight days apart, and the second one couldn't even hold its gains into the close. Since then, nine sessions, down 27%, barely a green day.
Now the spot. Today it's sitting at 103.81, right on the May correction lows at 102.40-103.85. This zone plus the 98-100 double bottom below it is the entire bull case's last stand. This is where the buyers who fueled the run either defend or disappear.
Why it matters so much: look what's under 98. Nothing. The April gap left a vacuum from 85 down to 82.20, and gaps born from news euphoria tend to fill when the euphoria dies. If 98 goes, 82 isn't a prediction, it's just where the next real price memory lives.
Upside, the repair path: reclaim 108-110.50 first, then 116-119. The 140-142 double top is the ceiling until proven otherwise
Turnaround stories are real, but charts don't grade the story, they grade the positioning. Everyone who chased above 120 is trapped, and trapped longs are fuel for lower prices until a level proves they're done selling
102-104 or bust

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