FREE Guide: 6 Fibonacci Types that Create the Most Precise Price Levels, Targets, and Reversal Zones

June 4 Chart of the Day - Intel

Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews

Intel (INTC) is making headlines this week as the company announced new AI data center chips to rival AMD and NVDIA.

In unspectacular fashion, their stock price essentially hasn't moved this week so we wanted to review their chart from a price action technical analysis perspective.

When we last featured Intel on June 22, 2023 price had been range bound roughly between $25 and $37 for quite some time.

We have featured over 220 Charts of the Day during the past year and will be launching a Price Action Trading Performance and Mindset Boot Camp starting June 5, 2024 to help traders become more confident and consistent with their trading results.

Monthly Chart 

Intel monthly price action technical analysis review

On the monthly chart we can see that after breaking out of that 2023 $25 - $37 range that price popped briefly up over $50 but has quickly deflated back to the $30 area.

Weekly Chart

Intel weekly price action technical analysis review

On the weekly chart we can see with much more clarity the quick rise up and quick drop back down.

Trading at $30.25 earlier today price is at a potential decision level and sitting in a higher time frame technical demand zone.

A demand zone is another one of the five price action tools we teach. It's a price area on a chart where there is potentially a high demand for the underlying asset based on historical price action in and around the same area where buyers could be prepared to purchase at different levels within the zone.  A demand zone is present within the light gray rectangle and has a high buying potential.

We've layered in traditional Fibonacci levels in both directions as well as support/resistance and trend to help identify potential future price levels of interest and/or future price targets.

Armed with precision oriented charts like these both traders and investors can formulate their respective plans.

So what's next? 

We don't make predictions...

Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.

  1. Support/Resistance
  2. Trend
  3. Fibonacci 
  4. Supply/Demand Zones,
  5. Change Control Zones

ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.

Take a look at the charts and let us know what you think.  

We'd like to hear from you in the comments sections.

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