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INTC breakout imminent? It sure appears that way as option and share volume picked up this week.

INTC Breakout – Chart Suggests Imminent

Intel (INTC) has been exhibiting signs of accumulation, noted in the MarketSmith chart below. In addition, “Acc/Dis” is (B+) indicating institutions are presently accumulating shares and building positions. In addition, analysts have adjusted expected earnings, reflecting a return to “growing profits” in 2024 at a 304% clip. That said, it is still along way from the $5.31/share in 2021. 

Price action is at the top of its base on base pattern, needing a little nudge to push Intel into the buy zone above $33.94. The blue area on the chart is automatically drawn in, as well as the profit zone in green shading overhead.

INTC Breakout

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