$INTC Technicals - 9/28 - ATHs are (still) coming.
As promised, updated the view last night and I have been calling the shot here for some time now. Even at $80. $150 is the EOY Price Target, but $170 is in play for mid-November.
The candles broke my charting from 2 weeks ago. Called this on 9/16 at ~$102.50. From the 9/16 close ($101.05) to the high: +$26.39, +26.1%.
Trigger was a close through $106.03. That line is not resistance anymore (which now sits at $123), and it went through, then through the MA stack I had drawn on top of it.
The weekly chart looks nothing short of spectacular. This stock has been accumulated by whales for 2 months and some days. Suppressed. For something.
It is the greatest cup & handle I have seen in a long while.
The first picture below is the Weekly, which is currently my holy grail and why the daily chart is not bothering me one bit.
Weekly close: $123.00. That is +$21.95, +21.7% off the 9/16 close.
The weekly candle is the tell.
O $116.53, H $127.44, L $114.93, C $123.00, +13.3% on the week. It closed above the MA cluster and above the 0.786 at $118.03.
The daily breakout candles did the same thing. Straight through the lines that capped August and early September. $106.03 is underneath the body now.
Daily, as of the Friday close:
- RSI 66.
- Williams −13. Hot, not pinned.
- TTM Wave A +6.30, blue.
- TMO 88 / 85. Squeeze dots still green.
- WaveTrend +59, curled at the upper band.
- MACD 2.92 / 7.17 / 4.25, back above zero.
- Ulcer 3.99. The daily pain is gone.
- BB (20, 2): mid $104.54, upper $129.78. Price is inside the band, not through it.
- Kev 116.84 / 108.48 / 103.69. All under price.
Weekly:
Weekly TTM is the signal. Squeeze dots flashed green. TMO −2 / −9 and turning. That is the fire and no more compression. When this name prints a green weekly TTM after a held squeeze, the next leg is the expansion leg.
Ulcer is still 24.44, the highest scar since the drawdown. Shorts were comfortable under $106. They are not comfortable above a green weekly fire with the candle already through the lines.
- RSI 64, up from 57.
- Williams −32, off the floor.
- TTM Wave A −3.07. Purple bars are small. Cooling (bullish).
- Squeeze still on. TMO −2 / −9, flat. Compression after the thrust, not a failed break.
- WaveTrend +26 and rising.
- MACD histogram −1.27, signal still above zero (8.69 / 9.96). Weekly momentum has not crossed down.
- Ulcer 24.44. Still the scar from the drawdown. That is why the first accepted break ran.
- BB (20, 2): mid $107.56, upper $134.55. Weekly close is above the mid-band. Upper band is the next magnet.
- 0.786 at $118.03 is broken. 1.0 sits at $142.36. The measured box on the chart is the same 45% leg: +$51.75.
Dark pools:
The record print is still 9/18. $2.04B at $108.60. First $2B day on the name. Held-down session, size into the close.
It did not stop there. It repriced up with the stock.
- Week of 9/14–9/18: $3.59B notional, 34.6M shares, avg print $103.61. Includes the $2.04B day.
- Week of 9/21–9/25: another $2.90B, 23.6M shares, 41 levels, avg print $122.83.
- 9/24: ~$524M around $120–$124, sell bias on that session.
- 9/25: ~$956M block at the $123 close, plus a $74M dark-pool print at the same price.
Two-month stack was ~$8B through 9/18. Add last week and it is ~$11B. $97 absorbed almost $1B twice. $108.60 launched it. $122–$123 is the new shelf.
Map now:
- $97: absorbed.
- $106.03: was the trigger. Under the weekly body.
- $110: taken 9/17.
- $118.03: 0.786. Broken.
- $123: weekly close. The hold.
- $127.44: the high. The new door.
- $129.78: daily upper band.
- $134.55: weekly upper band.
- $142.36: fib 1.0. Prior high zone is just under it.
Hold $123 and the book is still pointed at $130, then the upper band, then $142. Then, into $150 ATHs.
Not financial advice.
Long. Live. Intel.