Asset Watch
Tuesday, April 2, 2024
Add it all up, and Intel could generate plenty of buzz if management strikes the right tone on Apr. 2.
As for the technicals, the horizontal white line highlights how the stock is trading near long-term resistance. Before the 2022 collapse, the $44 area was a support anchor for over four years.
Consequently, watch for sustained strength above this level to know when the next bull run could unfold. Likewise, Intel’s 20-week moving average (the blue line) has acted as resistance over the last three weeks. But, a breakout this week could shift the balance of power in the bulls’ favor.
So, does Intel have the processing power to become an AI favorite, or will management fail to reboot the narrative on Apr. 2