Intel Corp. $INTC is likely completing a year long price top, and opening up a bearish outlook going into 2019. If and when price breaks below $42 a share, INTC would be breaking the neckline of a head and shoulders pattern.INTC Daily Chart(click to enlarge)Support at $42:- Note that there is still support at $42.- However, I would not rely on it outside of a short-term bounce or consolidation around it. - Price held under the 200-day while the RSI held under 60 after it previously already dipped below 30. These are signs that bears are now in control.- Along with general market risk aversion, these are reasons not rely on the $42 support. - But let's say we do get a bounce there at $42. - I would limit the upside to $46, which was the low and support in November. - A break above $50 is very unlikely, and would be a strong signal for bullish reversal.Downside:- If you believe the general equities market is done with its correction, the $40-$42 might be a good level to consider buying in. - However, if you believe we are just getting started and the market correction will take months to maybe even a couple of years, then, we should anticipate more downside in INTC.- The next support could be around $37-$38. This was a key resistance back in 2016-2017. - I think this is a good support if the general market was stable. - However, because we are in a significant market correction, I would not be surprised if INTC falls down to the $33 area.- This involves the 2017-low, and a lower trendline support. - If we see price around $33, with the RSI below 30, we can expect a rebound, especially if the general market also stabilizes. INTC Weekly Chart(click to enlarge)