INTEL Bullish Reversal and Continuation
INTC is showing a strong rebound from a well-established support zone, as indicated by multiple price bounces. Currently, the stock is testing a downward trendline resistance and is attempting to stay above the 200-day SMA, signaling a bullish trend shift. It might be time for Intel to fill that gap!
In my eyes, there are two options: A confirmed close above $26.2 could indicate further upside potential, with buyers gaining control. Volume has increased, suggesting growing bullish momentum. However, failure to break resistance could lead to another pullback first towards the 200 SMA and, if failed again, back to the lower demand zone.
Watch closely for this breakout confirmation in order for us to continue higher with a target of $30.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.