1 Intel Chart This Pro Is Watching

Shares of Intel Corporation INTC rose about 1 percent on Friday morning, but are still down 14 percent in the past three months. On the other hand, they are trading at almost a 20 percent premium to the year-ago price.

Benzinga had the chance to speak about the tech company with J.C. Parets (@allstarcharts), Founder & President of Eagle Bay Capital. Mr. Parets incorporates technical analysis and behavioral finance into his investing practice. In this occasion, he provided some thoughts on Intel and a chart to better explain his point.

Parets says that "structurally Intel confirmed a failed breakout in January and bearish momentum divergence.” He explains that “this is not good and now relative strength is also back into this range from 2012-2013 that we said had been a bullish breakout.”

The investor still only wants to be long “above that shaded area near $35.50 and more neutral if below it. This is still something we [Parets and his team] therefore would rather approach better from a tactical perspective"