1. Over the past few days, macroeconomic conditions have been entirely negative (long-term bond yields); 2. The Israel-Iran conflict has also been entirely negative over the past few days. When combining these negative catalysts with price action, it becomes clear that Intel has held up relatively strongly at this level. 1. The area enclosed by the rectangle represents the resistance zone; 2. The first rebound touched this resistance zone and subsequently reversed downward; 3. After the pullback, and supported by the negative news, the price remained range-bound above $85 for several days; 4. From a trading perspective, the risk-reward ratio at this level is very favorable—stop-loss is limited, while profit targets can be extended.