Chart of Day: Intel (INTC) – 2/21

Intel (INTC) looks interesting on the latest dip to $43.50.

After catching support dating back to December, the tech giant is also starting to pivot higher from over-extensions on RSI, MACD, and Williams’ %R. From its current price of $43.50, we’d like to see INTC initially refill its bearish gap around $50. Then, if it can break above strong resistance around $51.13, we’d eventually like to see it refill its 2021 gap, too.


Helping, INTC is in talks to receive $10 billion in Chips Act incentives from the Biden Administration. The WSJ said at the time the subsidies were expected to be announced before Biden’s State of the Union speech on March 7, though a separate Bloomberg report indicated the timing may be the end of March,” as noted by Seeking Alpha.

Morgan Stanley also recently raised its price target on INTC to $48 from $39. 

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