Intel Corp. (NASDAQ: INTC) shares fell on Monday as the stock experienced a pullback following a significant recent run-up. At the time of publication, the stock was trading lower by 5.37% at $116.39.
The decline comes as higher Treasury yields weighed on the market. The 10-year Treasury yield rose to 5.25%, its highest level since June 2007. Traders have placed the odds of a second consecutive Federal Reserve rate hike at 70.3%. Cleveland Fed President Beth Hammack noted that real yields have increased more than inflation expectations.
Market participants are also exercising caution regarding artificial intelligence risks. This sentiment was highlighted by Nvidia Corp. (NASDAQ: NVDA), which introduced software aimed at preventing AI agents from breaching containment. Nvidia listed Intel among its partners.
Despite the Monday drop, the longer-term technical trend for Intel remains positive. The stock is currently trading 44.4% above its 200-day simple moving average of $79.57. It remains above both its 20-day moving average ($105.81) and its 50-day moving average ($99.45).
From a technical analysis perspective, the Moving Average Convergence Divergence (MACD) is above its signal line with a positive histogram, suggesting that downside pressure may be easing. Key resistance levels to watch include $126.50, while $98.50 serves as a critical support level that would place the stock near its 50-day moving average.
