Could this be the resurgence Intel (INTC) shareholders have been looking for? A couple of back-to-back bangers for Intel with two huge announcements. Over the weekend, it was the announcement of a $3 billion award for Secure Enclave to expand the trusted manufacturing of leading-edge semiconductors for the US government. Then after the bell Monday, the company announced a deal with AWS to expand their strategic collaboration. Intel will produce an AI fabric chip for AWS on Intel 18A, as well as a custom Xenon 6 chip on Intel 3.
That shot in the arm had Intel shares up over 6% Monday, and flashing over 7% Tuesday until the broad market sold off, tugging the stock down to a 2.68% gain into the bell. This is the same level Intel shares bumped their head after its latest gap down on earnings. Tons of overhead resistance remains, including the 50-dfay at $24.70 as well as the start of the post-earnings gap at $21.98.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding Intel’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.
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