Intel stock price took a fall of -11.91% on FridayStockInvest.us, 3 weeks ago
The Intel stock price fell by -11.91% on the last day (Friday, 26th Jan 2024) from $49.55 to $43.65. During the last trading day the stock fluctuated 4.73% from a day low at $43.35 to a day high of $45.40. The price has risen in 6 of the last 10 days but is still down by -8.38% for this period. Volume has increased on the last day by 54 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 127 million shares were bought and sold for approximately $5.55 billion.
On Jan 26, 2024, it was reported that Oppenheimer gave INTC a "Perform" grade with a "hold" action.
Given the current short-term trend, the stock is expected to rise 28.26% during the next 3 months and, with a 90% probability hold a price between $55.99 and $70.18 at the end of this 3-month period.
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. On corrections up, there will be some resistance from the lines at $47.76 and $46.87. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, December 27, 2023, and so far it has fallen -14.01%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Intel finds support from accumulated volume at $43.35 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 $2.05 between high and low, or 4.73%. For the last week, the stock has had daily average volatility of 3.44%.
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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Sell candidate.Check full Intel forecast and analysis here.