Intel has released a net income down 19% to $2.7 billion for the first quarter. However, these results were expected by Thomson Reuters’consensus.

Intel is clearly affected by a decline in investment "hardware" business in the first quarter, due to the shortage of hard discs and disappointing sales of PCs from households due to the commercial success of internet tablets.

Technically, the stock has gradually increased until the USD 29.2 mid-term resistance. Once this level reached, the share is declining to the USD 27 support. Moreover, this technical line has been successfully tested before and a rebound could happen in the next trading sessions.

In this context, the stock’s behavior should be watched to take part of a rebound. The objective will be the USD 29.2 and the stop-loss will be fixed at USD 26.5.