INTEL Corp Weekly (23) Chart Technical Analysis

The Price of INTC made a Long movement with a green candlestick last week over the Tenkan Sen from $27.32 to $28.17. The MACD is clearly on bullish sign and the RSI too. The Stock is over the EMA200, the KUMO Cloud and the Tenkan-sen is over the Kijun-sen.

I expect that the stock will continue the bullish movement until the first resistance around the $28. The last long movement of the stock was from $21,85 to $25,85 giving a 1,618 fibonacci projection to $28,32 for a first target as I showed in last diagramm (Week 21). For a better reference see the Week 21 and Week 22 analysis.

"The $28.42 support line is a long term strong resistance. Meanwhile the stock from the year 2005 until today has a long term reversal pattern. (Personal view) - In spite of my technical analysis Intel is a world wide CPUs production corp that sells chips for servers, desktop, laptops, tablets and mobile devices. Microsoft and (before a few years) Apple too, support Intel Microprocessors via their operating systems software. I consider that Qualcomm , nVidia / AMD etc is far away of Intel's size and market depth.This is why I believe that a large scale of the near future belongs to Intel so do not be surprised if you see the stock from ($15 to $30) to reach the ($30-$45) next 2-3 years".


This is exactly a tech analysis paradigm that past shows the future.
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