Intel (INTC) Update
This rally is not sustainable.
In our previous analysis, we shared our overall outlook for Intel. There, we presented both our long-term and short-term perspectives, which are illustrated in the chart.
We expect that Intel is currently in a corrective phase, forming light blue wave 2. This correction is anticipated to terminate within our defined Fibonacci retracement zone, which ranges as follows:
- 61.8% at $32.66
- 78.6% at $26.65
- 88.7% at $23.03
Within this zone, we expect the correction (light blue wave 2) to complete, after which Intel should follow our long-term outlook and begin forming a strong and sustainable uptrend.
However, Intel has recently exceeded its local high from light blue wave 1 at $54.60 very quickly and with strong bullish momentum. We interpret this move as an overshooting wave B—an unsustainable upward movement and a typical market exaggeration.
Therefore, we maintain our view that this is a corrective rally rather than the start of a new impulsive trend. We continue to expect a significant sell-off, with price moving down into our defined Fibonacci retracement zone.
In our view, the current short-term bullish movement is not sustainable, and we remain aligned with our original analysis and expectations.
If any structural changes occur, we will update you immediately.
Kind regards,
Monalytics
DISCLAIMER: The content on this website, including charts, analyses, and recommendations, is for informational purposes only and does not constitute financial, investment, or professional advice. Trading and investing involve risk. You should consult a qualified financial advisor before making any investment decisions.
