In the past few sessions, Intel Corporation shares have suffered from a sharp fall and is now coming back on significant level support.

From a fundamental viewpoint, the security is cheap with a PER of 10.3x for 2012 and 9.53x for 2013. It is cheaper than the industry average. Besides, EV/Sales is low with a ratio at 2.13x for this year.

Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the USD 24.74 area should stop this trend and allow a technical rebound towards USD 26.13. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.

Considering technical and fundamental elements, it seems to be an appropriate timing to take immediately a long position in order to benefit from the USD 24.7 support area. A first target price will be the USD 26.1 resistance, ie a potential of 3.5%. A stop loss will be placed under the mid-term support currently tested. Only a crossing of USD 26.13 would validate a bullish trend in order to aim a higher target price.