Intel Corp. (INTC) has been bearish the last couple of weeks, falling from 37 to about 35.50. As we will see on the daily chart below, price is really in a sideways market since September 2016. But this sideways market is now facing the rising support factors from a prevailing uptrend. Intel Corp (INTC) Daily Chart(click to enlarge)Support:- As price tests 35.50, it is testing a rising trendline that is coming up from a low just under 25.00, from September 2015. - That reminds us that INTC has been in an uptrend, albeit a choppy one as we can see on the daily chart above.Bullish Scenario:- We should also note that the RSI is tagging 40 after it just pushed above 70. If it can hold above 40, it would reflect development of bullish momentum. And that would describe a market shifting from the sideways consolidation mode, to a bullish continuation mode. - I think the next clue for bullish continuation would be a push back above 36.00, which would clear some resistance factors that would have held in a bearish trend.- In this bullish scenario, there is upside towards 37.50, and 38.35 consolidation highs. Bearish scenario within a Sideways Scenario:- However, let's say price falls below 35.50 and the RSI dips below 40. This would open up the consolidation lows around 33.50.- The bearish scenario would be even more likely if we see price bounce up but find resistance around 36.00. - Note that the downside to 33.50 is within the context of a sideways market. It is not a bearish outlook outside of the current short to medium-term. - A break below 33.50 then would open up a bearish outlook in the subsequent medium-term.