Intel stock tests major support as investors expect potential breakout
Intel has been actively pursuing initiatives to regain its competitive edge.
As of April 8, 2025, Intel Corporation (NASDAQ: INTC) is trading at $19.57, marking a 1.64% decline from the previous close.
This continues a broader downtrend that began in mid-2024, when the stock was trading above $35. Over the past 52 weeks, INTC has ranged between $18.51 and $45.41, reflecting substantial volatility amid shifting investor sentiment, competitive pressures, and internal restructuring efforts. The current price is hovering near the lower end of this range, putting investors on high alert for either a breakdown or a rebound from these levels.
From a technical standpoint, the $19.00 level is serving as a key support zone. It has been tested multiple times since late Q1 2025 and has held, suggesting a possible bottom formation. Should this support break, the next significant downside target would be in the $17.50–$18.00 range, where the stock last found footing during early 2023 lows.
INTC stock price dynamics (February 2025 - April 2025). Source: TradingView.
Resistance lies near $26.00, aligning with the 50-week simple moving average (SMA) and a horizontal resistance line that formed from multiple failed rallies in the second half of 2024. A close above this level could mark a technical breakout and pave the way toward the psychological $30.00 barrier, which also coincides with the 200-day SMA.
Market context and developments
The broader semiconductor industry remains in flux, influenced by geopolitics, AI-driven demand, and supply chain restructuring. Intel has been actively pursuing initiatives to regain its competitive edge, especially against rivals like AMD and Nvidia. One of the most closely watched developments is the reported strategic deal with Taiwan Semiconductor Manufacturing Company (TSMC), which could involve capacity sharing or technology licensing. While not yet finalized, the potential collaboration signals a major pivot in Intel’s approach to foundry operations.
Intel has also made leadership changes that have caught the market’s attention. The appointment of Lip-Bu Tan, a respected semiconductor veteran, as CEO has been viewed as a strategic move to guide the company through its transformation. Under his leadership, investors expect stronger execution on Intel’s foundry ambitions and possibly a more collaborative stance within the global chip ecosystem.
Adding to the uncertainty is the macroeconomic backdrop. With inflation cooling and interest rate hikes pausing, capital is beginning to flow back into high-tech growth sectors. However, investors remain cautious, particularly in semiconductor stocks that are undergoing business model transitions or facing execution risk.
Price scenarios
Over the next four to six weeks, Intel’s stock is likely to stay range-bound between $19 and $26, barring any game-changing announcements. If the TSMC deal is confirmed and the terms are favorable—especially if they enhance Intel’s manufacturing scale or reduce its capex burden—investors could quickly re-rate the stock toward the $30 level.
In the bullish scenario, a breakout above $26 with volume confirmation could see INTC retest $30 by early summer. A neutral scenario sees INTC consolidating in the current range, particularly if the TSMC outcome remains speculative. A bearish outcome, driven by weak earnings guidance or breakdown in TSMC negotiations, could push the stock below $19, targeting $17.50 or lower.
Intel’s stock has declined following a CHIPS Act funding award of $7.9 billion, falling short of the expected $8.5 billion. The shortfall has raised investor concerns over Intel’s capacity to scale its foundry operations rapidly enough to compete globally.
