Technical Insights for INTEL CORP (NASDAQ:INTC): Is a Breakout Imminent?

Our stock screener has spotted INTEL CORP (NASDAQ:INTC) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NASDAQ:INTC.

In-Depth Technical Analysis of NASDAQ:INTC

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Taking everything into account, INTC scores 7 out of 10 in our technical rating. In the last year, INTC was one of the better performers, but we do observe some doubts in the very recent evolution.

• The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• When comparing the yearly performance of all stocks, we notice that INTC is one of the better performing stocks in the market, outperforming 93% of all stocks. On top of that, INTC also shows a nice and consistent pattern of rising prices.
• INTC is one of the better performing stocks in the Semiconductors & Semiconductor Equipment industry, it outperforms 80% of 106 stocks in the same industry.
• INTC is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so INTC slightly outperforms the market at the moment.
• In the last month INTC has a been trading in the 33.64 - 40.07 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

For an up to date full technical analysis you can check the technical report of INTC

How does the Setup look for NASDAQ:INTC

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NASDAQ:INTC currently holds a 8 as its setup rating, suggesting a particular level of consolidation in the stock.

Besides having an excellent technical rating, INTC also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 35.29, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for INTC in the last couple of days, which is a good sign.

Trading breakout setups.

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.