Intel (NASDAQ:INTC) stock has moved into a local bear market after falling by 33% from the year-to-date high.
It has also formed a double-top pattern as traders position themselves for the upcoming second-quarter earnings report later this week.
Intel Stock on Edge Ahead of Earnings INTC stock has dropped sharply in the past few weeks, mirroring the performance of other semiconductor companies.
The iShares PHLX SOX Semiconductor Sector ETF (NASDAQ:SOXX) has slumped by 20% from its highest point this year.
Intel is still one of the best-performing companies in the United States this year.
