Watch These Intel Stock Price Levels as Chipmaker Continues to Rally

Company Performance and Market Sentiment - Intel shares rose 2 5% to around $22 in early-afternoon trading Tuesday following a 12% surge last week [2][3] - The stock has lost more than half its value over the past 12 months due to investor skepticism about its ability to capture a greater share of the AI chip market [3] - A bullish engulfing pattern formed on the chart near the early-September low, signaling a potential double bottom [4][10] Strategic Updates and Deal Rumors - Intel plans to spin off its venture fund as a standalone entity while remaining an investor to improve business efficiency [2] - Sentiment was further boosted by rumors that Intel might be a takeover target [2] Technical Analysis and Key Price Levels - Follow-through buying could push Intel shares to around $25, near resistance levels from October 2022 and February 2023 troughs [6] - A decisive close above $25 may see the stock climb to $30, near a trendline connecting highs and lows from September 2022 to June 2023 [7] - More bullish price action could propel the stock to around $37, near the 200-day moving average and a horizontal line linking trading levels from June 2022 to July 2023 [8] - A key support level to track is around $19, near significant lows from September and January [9][10] Market Activity and Investor Behavior - Last week's rally occurred on the highest weekly volume since early December, indicating strong buying conviction from institutional investors and hedge funds [5]