Intel Stock Price Prediction: US Chip Makers Join Tech Stock Rally

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Written By: Abdullah Sarwar

Nov 15, 2023, 17:01 GMT 17:01

Summary:

Intel Stock Price Prediction: NASDAQ: INTC is looking very bullish as the investor focus shifts to semiconductors. $44 is near than you think.

The stock price of Intel rose 1.55% on Wednesday’s opening, as investors expect the rate hike curse to finally end amid a cooling US inflation. This narrative is further supported by the CME FedWatch tool, showing a 99.8% probability for the rate to remain unchanged in December’s FOMC meeting.

Side by side, Intel has sparked rumors of a recent $50 million investment in Stability AI. However, the chip manufacturer has declined to comment on this.

The stock for Intel is currently priced at $40, representing a 15-month high for the stock. The outlook is looking even more bullish due to a market-wide rally.

Intel Stock Price Technical Analysis

Analyzing the chart for NASDAQ: INTC reveals that the stock gained 7.2% after surpassing the $37 resistance level. Consequently, the stock is now trading 23% above its 200 MA, further reinforcing the bullish outlook for the chip manufacturer’s shares.

INTC Technical Outlook & Chart

Any strength above the $37 resistance would have the potential to flip the Intel stock price forecast extremely bullish, putting a retest of the $44.4 resistance on the cards. However, a bearish threat might emerge if the price dips below the critical $37 support level.

This post was last modified on Nov 15, 2023, 17:01 GMT 17:01

Written By: Abdullah Sarwar

Abdullah Sarwar is a blockchain analyst and a cryptocurrency investor with more than 5 years of experience. He specializes in providing crypto price projections based on their fundamentals and price charts. He is also a successful day trader. He graduated in 2015 with a degree in electronic engineering. In his free time, he loves listening to electronic music and playing with trading bots.