The stock is up a whopping 90% this year. The last time this happened was in 2003 | Don’t ignore this chart!

Intel (INTC) wants to expand its manufacturing operations, and recent news that it invested $25 billion in a new manufacturing facility in Israel boosted its stock price. Intel has been lagging in manufacturing capabilities, so investing in this area is the right move for the company.

Although Intel’s stock has underperformed other chip makers, its stock has risen more than 90% this year. We haven’t seen results like this since 2003. Intel’s stock price is on pace to hit its highest since January 2022.

Intel stock chart analysis

Most of this year’s gains began in mid-2023, with significant gains occurring toward the end of the year. In November 2023, Intel’s stock price showed signs of greater momentum. If you look at the Intel stock (INTC) daily chart below, you can see that as the stock price rises, trading volume also increases rapidly.

Chart 1: Daily chart of INTEL (INTC) stock. Stock prices have risen this year and may decline. Chart source: StockCharts.com. For educational purposes.

INTC has a high StockCharts Technical Ranking. (SCTR) scores are close to 100. It’s been above 70 since Oct. 26, when the company reported better-than-expected third-quarter results. Afterwards, the stock price continued to rise and traded above the upper limit. bollinger bands^®Although it is now showing signs of retreat.

Also note that Intel is outperforming the Philadelphia Semiconductor Index ($SOX) by over 25%. This suggests that Intel’s stock performance relative to its industry group needs some catching up.

The weekly chart of Intel stock (see below) shows the stock bouncing back from the triple bottom, breaking above the first resistance level (red dotted line), and then continuing to move higher than the common price target after the triple bottom (green dotted line). ).

Chart 2. INTC’s weekly chart. After hitting bottom and rebounding three times, Intel’s stock price appears to be on the rise. Will we encounter resistance at the $52.50 level? Chart source: StockCharts.com. For educational purposes.

After breaking through the second resistance line, the stock price rose quickly and broke the 100-week line for the first time. simple moving average (SMA) and the 200-share SMA. Golden Cross may come outThis means that the 50-week SMA will exceed the 100-week SMA in the near future. It’s something to see.

INTC Trading

The stock is showing some signs of decline as the price falls below the upper Bollinger Band. On the positive side, the price is approaching the next resistance level, the January 10, 2022 high around $52.50. If you are considering adding INTC to your portfolio, take a look at the following price trends.

• Look at the downward trend of the upper Bollinger Band. If the price reverses and moves above the previous high but fails to reach the upper band, this is a warning sign. You want to enter a trade when the price moves back above the upper Bollinger Band. If you look at the daily chart, note that a similar situation occurred in early November.
• Watch the price action near the $52.50 level. A move above this level (close to that level and possibly above the upper Bollinger Band) would be an ideal entry point for a long position.
• A move below the upper band towards the middle band could be a sign of unconfirmation, so hold the stop level just below the middle band.

conclusion: Set a price alert to coincide with the top of the Bollinger Band or a crossover above $52.50.

disclaimer: This blog is for educational purposes only and should not be construed as financial advice. You should not use any of our ideas and strategies without first evaluating your personal and financial situation or consulting a financial professional.