Dave Barnhart breaks down Intel's recent price action, highlighting $4 billion in large block trades suggesting institutional buying. The stock is consolidating above these prints with bullish targets at $110, $111.39, and $114.25 if it holds above $107.
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trades in the last 30 days. Intel is interesting because the sheer billions of dollars of prints— look at this, 3.5 million shares, 5 million shares, 3 million shares, 4 million shares. So we've got this consolidation here, pulled back, started— it looks like accumulation here. And we push off prints, come back, hold the prints so they can add to their position. We go sideways and we're breaking above. So the— all the prints in the last month, we are above. And look at yesterday, 3.4 million in 2 trades, 104.56 and 105.57, and we're above that. So we close strong, we'll be long. This is the 50 simple— 50 simple moving average here around 110. Just be careful of that. And then if we pull back below these prints, then potentially a short position. So let's look at this intraday. We're going to be bullish above 107. Let's get above here. We've got this initial thrust, so let's get up above that. 107.98, 108.54 is a cam there. 110, 111.39, 114.25, and 115. I just broke that up because we've got a range here from 112 to 118 The ATR on this is about $7, so just be careful with that. On the downside, we're going to be bearish below 105. Let's get below here. We've got this pre-market gap right here. We also have a 2 million print and a CAM. So 105, we want this to be resistance. 104.56 is 1.4 million. 104.15 is the pivot. 103.90 is a CAM. This is my 200 exponential, 200 simple sitting right here. So this might be a pretty good cushion on the downside for support. 103.23, 102.57, then 195, 3.9 million. We stopped right there. Let's see if this moves down.
