The Intel $Intel(INTC)$ stock price fell by -0.754% on Tuesday, 22nd Aug 2023 from $33.14 to $32.89. During the last trading day the stock fluctuated 2.94% from a day low at $32.84 to a day high of $33.80. The price has been going up and down for this period, and there has been a -6.08% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -20 million shares and in total, 23 million shares were bought and sold for approximately $753.34 million.
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 12.14% during the next 3 months and, with a 90% probability hold a price between $35.18 and $42.56 at the end of this 3-month period.
INTC Signals & Forecast
There are few to no technical positive signals at the moment. The Intel stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $33.62 and $34.08. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, July 28, 2023, and so far it has fallen -10.70%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Intel stock
Intel finds support from accumulated volume at $31.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.96 between high and low, or 2.94%. For the last week, the stock has had daily average volatility of 3.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INTC) For The Trading Day Of Wednesday 23rd
For the trading day on Wednesday, 23rd we expect Intel Corporation to open at $33.18, and during the day (based on 14 day Average True Range), to move between $31.83 and $33.95, which gives a possible trading interval of +/-$1.06 (+/-3.21%) up or down from last closing price. If Intel Corporation takes out the full calculated possible swing range there will be an estimated 6.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $31.44 (4.41%) than the resistance at $35.58 (8.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Insiders are negative selling more shares than they are buying in Intel
In the last 100 trades there were 41.03 million shares bought and 77.27 million shares sold. The last trade was made 8 days ago by Gelsinger Patrick P who sold 35.14 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?
The Intel stock holds several negative signals and despite the positive trend, we believe Intel will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
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