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Intel stock upgraded to Strong Buy Candidate.

StockInvest.us, 1 month ago

Intel

The Intel stock price gained 0.94% on the last trading day (Thursday, 25th Jan 2024), rising from $49.09 to $49.55. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.72% from a day low at $48.97 to a day high of $50.30. The price has risen in 7 of the last 10 days and is up by 4.38% 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, 25 million more shares were traded than the day before. In total, 73 million shares were bought and sold for approximately $3.60 billion.

On Jan 24, 2024, it was reported that Cantor Fitzgerald gave INTC a "Neutral" grade with a "initialise" action.

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 31.68% during the next 3 months and, with a 90% probability hold a price between $60.21 and $72.26 at the end of this 3-month period.

Intel

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 $48.10 and $46.82. 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 Wednesday, December 27, 2023, and so far it has fallen -2.38%. 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).

On the downside, the stock finds support just below today's level from accumulated volume at $46.16 and $45.18.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 $46.16. If this is broken, then the next support from accumulated volume will be at $45.18 and $43.35.

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 $1.33 between high and low, or 2.72%. For the last week, the stock has had daily average volatility of 3.49%.

Since the Intel has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Intel holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Check full Intel forecast and analysis here.