Stronger technical forecast for Intel stock price after Thursday trading.
StockInvest.us, 1 month ago
The Intel stock price fell by -0.154% on the last day (Thursday, 5th Sep 2024) from $19.43 to $19.40. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.43% from a day low at $19.24 to a day high of $19.90. The price has fallen in 7 of the last 10 days and is down by -9.39% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -21 million shares and in total, 65 million shares were bought and sold for approximately $1.25 billion.
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 -36.65% during the next 3 months and, with a 90% probability hold a price between $8.90 and $16.77 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
There are mixed signals in the stock today. 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 $20.11 and $23.90. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Wednesday, August 07, 2024, and so far it has risen 2.16%. 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).
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 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 $0.660 between high and low, or 3.43%. For the last week, the stock has had daily average volatility of 5.11%.
Intel holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Check full Intel forecast and analysis here.