Intel (INTC) shares will remain on investors’ radar screens Tuesday after The Wall Street Journal reported Saturday that Broadcom (AVGO) and Taiwan Semiconductor Manufacturing Co. (TSM) are considering bids fo♚r parts of the embattled chipmaker.

According to the report, Broadcom has been looking into Intel’s chip-design and marketing business, while contract chipmaker TSMC has mulled taking over some or all of Intel’s chip plants as part of an investor 澳洲幸运5开奖号码历史查询:consortium or another structure.

Intel shares 澳洲幸运5开奖号码历史查询:surged more than 20% last week after Vice President JD Vance said at a recent AI conferencꩲe in Paris that the Trum𒊎p administration would take steps to ensure AI chips are designed and manufactured in the U.S, a move that could benefit Intel’s foundry business that makes chips for third parties. 

Sentiment surrounding the stock received a further boost last week on speculation that the company may partner wit💝h TSMC to make chips in the U.S. Despite last week’s gains, Intel shares have lost nearly half their value over the past year amid concerns about the chipmaker’🌟s uncertain turnaround plan and inability to capture more of the lucrative AI silicon market.

Below, we take a closer look at Intel’s chart and apply 澳洲幸运5开奖号码历史查询:technical analysis ൩to identify key price levels that investors may be watching out for.

Potential Re🥀ctangle Pattern Carving Chart Bottom

Since gapping sharply lower in early August last year, Intel shares have remained mostly 澳洲幸运5开奖号码历史查询:rangebound, potentially carving out a 澳洲幸运5开奖号码历史查询:rectangle bottoming pattern.

This month, the stock has rallied towards the top of the rangebound period on above-average volume, though the closely watched 澳洲幸运5开奖号码历史查询:200-day moving average (MA) has provided 澳洲幸运5开奖号码历史查询:resistance in recent trading sessions.

Meanwhile, the 澳洲幸运5开奖号码历史查询:relative strength index (RSI) sits just below the 70 threshold, confirming bullish momentum, setting the stage for positive 澳洲幸运5开奖号码历史查询:price action to continue this week.

Let’s identify four key overhead areas on Intel’s chart where the shares could face selling pressure and also point out a major 澳洲幸运5开奖号码历史查询:support level worth monitoring if the stock reverses course.

Key Overhead Areas to Watch

Firstly, it’s worth keeping track of the $26 area. This location, currenting sitting just ab♔ove the 200-day MA, may provide overhead resistance near the re♏ctangle pattern’s top trendline.

A decisive breakout above this level could see the shares climb to around $32. Investors who have bought shares at lower prices may look for 澳洲幸运5开奖号码历史查询:exit points in this region near a trendline that connects a range of comparable trading levels on the chart between April 2023 and Jul✃y𒅌 last year.

Buying above this level may trigger a move up to the $37 area. The shares could encounter resistance in this location near a 澳洲幸运5开奖号码历史查询:horizontal line th༺e links multiple peaks on the chart from August 2023 and July last year.

A longer-term uptrend opens the door for a move up to around $45, an area where investors may look to 澳洲幸运5开奖号码历史查询:lock in profits near a range of 澳洲幸运5开奖号码历史查询:peaks and troughs 💟th⛎at formed on the chart between November 2023 and March 2024.

Major Support Level to Monitor

If Intel’s share price reverses, investors should keep a close eye on the $19 level. This area on the chart would likely provide significant support where buyers may seek 澳洲幸运5开奖号码历史查询:entry points near the rectangle pattern’s lower trendline.

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