INTC - Back to $68
By:TradingView
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Intel has seen a massive move from a low of $18 in April 2025 to its recent high of $87, representing a nearly 400% rally in just over a year.
Looking at the chart, some sort of Shark harmonic pattern appears to have been developing, driven by the deep "C" correction leg we saw. Granted it is not a perfect pattern, but it is still validated in alignment with the XABCD tool as the B corrective wave back to the upside was in alignment with the 0.618 Fibonacci level.
Based on this structure, Intel appears poised to make a move back toward the $68 to $69 level. This also happens to be a structurally perfect level for several reasons. It was the double top that formed in February 2020 and April 2021 before the drop to the $17 low. It was also approximately where Intel closed on April 23, 2026 before the massive gap to the upside, making it a natural area for price to want to fill that gap.
Therefore, if sellers begin taking profits at these elevated levels, watch for an initial move back toward the $68 to $69 range first.
Looking at the chart, some sort of Shark harmonic pattern appears to have been developing, driven by the deep "C" correction leg we saw. Granted it is not a perfect pattern, but it is still validated in alignment with the XABCD tool as the B corrective wave back to the upside was in alignment with the 0.618 Fibonacci level.
Based on this structure, Intel appears poised to make a move back toward the $68 to $69 level. This also happens to be a structurally perfect level for several reasons. It was the double top that formed in February 2020 and April 2021 before the drop to the $17 low. It was also approximately where Intel closed on April 23, 2026 before the massive gap to the upside, making it a natural area for price to want to fill that gap.
Therefore, if sellers begin taking profits at these elevated levels, watch for an initial move back toward the $68 to $69 range first.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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