The Intel $Intel(INTC)$ stock price gained 1.95% on Friday, 21st Jul 2023, rising from $33.37 to $34.02. During the last trading day the stock fluctuated 2.48% from a day low at $33.42 to a day high of $34.25. The price has risen in 6 of the last 10 days and is up by 6.81% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 21 million more shares were traded than the day before. In total, 57 million shares were bought and sold for approximately $1.95 billion.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 16.47% during the next 3 months and, with a 90% probability hold a price between $35.85 and $44.75 at the end of this 3-month period.
INTC Signals & Forecast
The Intel stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $33.96 and $33.18. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, June 16, 2023, and so far it has fallen -6.46%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Intel stock
On the downside, the stock finds support just below today's level from accumulated volume at $31.44 and $29.86. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Intel finds support just below today's level at $31.44. If this is broken, then the next support from accumulated volume will be at $29.86 and $29.00.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.83 (2.48%) between high and low. For the last week, the stock has had daily average volatility of 2.81%.
Our recommended stop-loss: $32.55 (-4.31%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (INTC) For The Trading Day Of Monday 24th
For the trading day on Monday, 24th we expect Intel Corporation to open at $33.90, and during the day (based on 14 day Average True Range), to move between $32.97 and $35.07, which gives a possible trading interval of +/-$1.05 (+/-3.07%) up or down from last closing price. If Intel Corporation takes out the full calculated possible swing range there will be an estimated 6.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $35.58 (4.59%) than the support at $31.44 (7.58%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Insiders are negative selling more shares than they are buying in Intel
In the last 100 trades there were 41.01 million shares bought and 77.21 million shares sold. The last trade was made 24 days ago by Yeary Frank D who bough 1.64 thousand shares. In general the insiders are selling more stocks than they buy. There can be a variety of reasons for this, but in general it can be considered as a negative signal.
Is Intel Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Intel stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
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