INTEL stock has been decimated the last few months, due to growing competition, decelerating revenue and decrease of dividend.
Is it dead though?
Here is what the chart is saying:
Big downtrend since April 2021. On October 2022, the stock has started a consolidation/base in form of a range between 24.90 and 30.85.
This range could be a bottom formation. See also the double bottom on the chart.
Note that bottoming pattern takes time and this one could continue for a few more weeks/months. However a break out of the range (31) could confirm a change of trend and a long trade/investment.
Keep monitoring this stock in the next few days/weeks, set an alert at the top of the range. If it breaks out of the range, it will be time to initiate a long position.
Note that there was a lot of institutional buying in February 2023.
On watch.
Is it dead though?
Here is what the chart is saying:
Big downtrend since April 2021. On October 2022, the stock has started a consolidation/base in form of a range between 24.90 and 30.85.
This range could be a bottom formation. See also the double bottom on the chart.
Note that bottoming pattern takes time and this one could continue for a few more weeks/months. However a break out of the range (31) could confirm a change of trend and a long trade/investment.
Keep monitoring this stock in the next few days/weeks, set an alert at the top of the range. If it breaks out of the range, it will be time to initiate a long position.
Note that there was a lot of institutional buying in February 2023.
On watch.
Comment:
INTC nice move today