The Dow Jones Industrial Average may have hit a record this week, but some of its components still have room to catch up.
One name caught the attention of Craig Johnson, senior technical research analyst at Piper Sandler.
Trading somewhere in the middle of a multiyear range, Intel's stock "looks like it's so bad, it might just be good," Johnson said.
"We've made a little bit of a double bottom in here as of late, moved back above the 50-day moving average," he said. If the stock can clear its 200-day moving average it could even retest its highs, he said in an earlier note to CNBC.
Johnson added that its ratio relative to the PHLX Semiconductor Index is significantly lower than its five-year average.
"This is ... one of these stocks that's been down but not out," Johnson said.
Intel reported fiscal third-quarter earnings after Thursday's closing bell. Shares fell in extended trading after the company missed revenue expectations.
Another Dow dud is likely to find its footing in the intermediate term, Simpler Trading director of options Danielle Shay said in the same interview.
"Disney's stock has been beat down a little bit, but Disney's brand is not going anywhere," she said, adding that "Disney+ has been the shining star" while theme parks, hotels and cruises have been hurt since the start of the pandemic.
"You have a really nice pattern on the weekly chart. You have a nice cup-and-handle consolidation setting up. So I'm a buyer of Disney here," she said. "When things do get back to normal, we're going to see Disney at new highs."