Intel eyes ATH amid improving market sentiment
Intel shares received a strong boost as sentiment across the semiconductor sector improved.
One of the main catalysts was the de-escalation of tensions between the United States and Iran, which helped restore investor appetite for technology stocks.
Large investors appear willing to allocate capital to risk assets once again. However, it is important to remember that the current agreement remains fragile and could still unravel.
Intel also retains significant upside potential if the company can successfully execute its foundry strategy and regain some of the market share it has lost in the semiconductor industry. In recent years, Intel has notably lagged behind AMD in this area.
A potentially negative factor is that Jim Cramer has recently turned his attention to Intel. He stated that Intel should be viewed more as an alternative to Taiwan Semiconductor Manufacturing Company (TSMC) than to Broadcom.
Market participants are well aware of the so-called "Cramer effect," where his comments are often followed by short-term selling pressure.
Intel retests breakout as ATH remains in focus
As mentioned in our previous analysis, INTC shares broke above the upper boundary of a bullish flag pattern and successfully established themselves above $120. However, the stock failed to reach a new all-time high.
At the moment, the stock is undergoing a modest pullback, and a retest of the flag's upper boundary near $120 appears likely.
A move toward the local support zone around $125 is expected today. If Intel manages to hold the $120–$125 range, the stock could be positioned for another attempt to challenge its all-time high.
Trading volume remains a positive signal, having stayed elevated over the past three months. In addition, the RSI (14) remains below overbought territory, providing further support for the ongoing trend.
July earnings could define Intel's future
Intel has yet to demonstrate sustained revenue growth directly tied to the artificial intelligence boom. As a result, investors continue to closely monitor any signs of progress in the company's foundry business and new product development.
At present, the stock is being supported primarily by expectations of future improvements. However, for a long-term bullish trend to continue, Intel will need to validate those expectations with tangible financial results.
The company's upcoming earnings report at the end of July is likely to provide important insight into Intel's future prospects.
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