Stock of the day: Intel

Sell in May and go away? Well, Wall Street traders hurried things up and sold in April. The last few weeks in stocks have been terrible and currently there are many more great selling occasions than bullish ones. In our first analysis in May, we’re writing about Intel.

The reason we mention this company is that we’re currently on an extremely important long-term support. This support area is around 43.5 USD (orange) and it’s being used as a bullish stronghold for the past few years. The price was using this support for a bounce since the beginning of 2018 and aside from 2021, it’s happened every single year.

It goes without saying it’s a now or never moment for Intel. The place to initiate the rise is perfect. If the rise is about to start, it should start here. On the other hand, the price breaking that support and closing a weekly chart below the orange line would be an amazing sell signal. The forthcoming week should be crucial and can show us the direction for the next few months or maybe even years.