Will Intel play catch-up?CAPITALCOM:INTC has vastly underperformed its peers for a long time, but there might be signs the stock will start to move in the right direction. There has been a lot going on with the company this last week, maybe the chart will show some improvement.
Price has broken resistance recently and closed above on Monday this week. It has since started building momentum, with indicators showing strength. MACD is rising, and On-balance-volume is confirming the uptrend. My first target would be for price to fill the gap created on Aug 2 when price dropped a whopping 25%. Once reached, we might see a slight pullback, however this should be temporary. Next speed bump might occur around $35.50 - $36.00 but that would be a 50% jump from the price today and will be more long term I believe, unless rumors of a takeover (or a massive investment) of the company becomes more solid. One more trigger one might want to wait for is the shorter EMA (i.e. 21) crossing the longer (i.e. 50).