Red day on Wednesday for Intel

The Intel stock price fell by -2.29% on the last day (Wednesday, 28th Aug 2024) from $20.07 to $19.61. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.05% from a day low at $19.51 to a day high of $20.11. The price has been going up and down for this period, and there has been a -1.56% loss for the last 2 weeks. Volume has increased on the last day by 5 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, 49 million shares were bought and sold for approximately $960.93 million.

On Aug 16, 2024, it was reported that KeyBanc gave INTC a "Sector Weight" grade with a "hold" action.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -30.49% during the next 3 months and, with a 90% probability hold a price between $11.09 and $20.16 at the end of this 3-month period.

A buy signal was issued from a pivot bottom point on Wednesday, August 07, 2024. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $20.41 and $25.90. A break-up above any of these levels will issue buy signals. 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 $19.36 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.595 between high and low, or 3.05%. For the last week, the stock has had daily average volatility of 3.64%.

Intel holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.