$INTC * INTEL EWP TC FIB BI-MONTHLY TF ANALYSISThe chart for Intel ( NASDAQ:INTC ) shows an Elliott Wave analysis of the stock’s price action from its IPO in 1971 to the present:
1. Price History and IPO:
The chart marks Intel’s IPO on October 13, 1971, with the stock price adjusted to $0.30, reflecting the stock splits that occurred over the years.
2. Elliott Wave Pattern:
The chart shows an Elliott Wave Sideways Combo (denoted by labels ABC and WXY), which suggests a corrective pattern in the longer term. The structure implies that Intel’s stock price has been in an ongoing cycle of corrections and rallies, which is a 30-year consolidation before the next significant move upward.
3. Resistance and Support Levels:
Resistance : The upper bounds of the chart show key levels that might act as resistance, where the price could face difficulty moving higher in the short to medium term. This is shown by the Fibonacci retracement levels (highlighted in blue).
Support : The lower levels show strong support zones, which suggest possible reversal points if the stock were to dip lower. The RSI (Relative Strength Index) suggests that the stock might be moving toward oversold conditions, indicating a potential buying opportunity short term.
4. Potential Future Moves:
The upper boundary of the chart indicates a possible rally towards $75.81 and beyond, which could occur if the stock breaks its recent sideways trend in a few years (!).
5. Timeframe and Outlook: This chart suggests a long-term perspective on Intel’s price, extending to the early 2040s, with expectations of significant movements.
This chart and the EWP analysis offer a structured view of potential price action for Intel, based on historical patterns and technical analysis.
Intel has undergone several stock splits since its IPO in 1971.
The stock splits occurred in the following years:
1. 2-for-1 split in 1972.
2. 2-for-1 split in 1980.
3. 2-for-1 split in 1983.
4. 2-for-1 split in 1987.
5. 2-for-1 split in 1993.
6. 2-for-1 split in 1999.