Intel Surges 7.23% on Bullish Technicals and Heavy Volume

Intel (INTC) surged 7.23% to close at $23.59 on July 8, 2025, accompanied by significantly elevated volume of 119 million shares. This bullish momentum follows a volatile trading range between $22.13 and $23.78 during the session, suggesting renewed accumulation after a period of consolidation below the $23 resistance level.
Candlestick Theory
Recent candlestick patterns indicate a potential bullish reversal. The July 8 session formed a robust bullish candle engulfing the prior three sessions' range, supported by the June 24 hammer candle at $21.33. Key resistance emerges at $23.78 (July 8 high), aligned with the June 27 swing high of $23.38. Support clusters near $21.88 (July 2 low) and $21.33 (June 20 trough), both validated by multiple reversal candles during pullbacks.
Moving Average Theory
The 50-day moving average (near $21.80) maintains an upward slope above the ascending 100-day ($20.90) and 200-day ($20.40) averages, confirming a primary bull trend. The July 8 close at $23.59 extends further above all key averages, though the price remains approximately 30% below the 52-week high of $37.16. This configuration suggests sustained intermediate-term strength but signals caution given the substantial overhead supply above $25.
MACD & KDJ Indicators
MACD exhibits a bullish crossover with histogram bars expanding positively, reflecting accelerating momentum. Meanwhile, KDJ shows the %K line (84) crossing above %D (78) in overbought territory. While both oscillators support near-term upside, their convergence near overbought extremes suggests potential consolidation. No bearish divergence is currently evident relative to the price advance.
Bollinger Bands
Bollinger Bands contracted sharply ahead of the July 8 breakout, indicating reduced volatility preceding directional resolution. The close near the upper band ($23.60) confirms strength, with the band width expanding from recent lows. This price-band alignment may support continuation toward the $24.50 region, though closes outside the upper band historically precede brief consolidation phases in this security.
Volume-Price Relationship
Volume surged 48% above average during the July 8 advance, validating bullish conviction. This follows higher-than-average volume during the June 10 rally (+171M shares) and June 24 rebound (+130M shares), confirming accumulation at support. However, distribution signals emerged during breakdowns like April 9 (-224M shares at $19.85), establishing a volume-confirmation framework where rallies exceeding average volume demonstrate sustainability.
Relative Strength Index (RSI)
The 14-day RSI (approximately 68) approaches overbought territory but hasn't crossed the 70 threshold, leaving room for additional upside. This reading aligns with the March 13 peak (RSI: 72) preceding consolidation. Notably, RSI maintained above 40 during recent pullbacks, reflecting resilient momentum. While warning signals would trigger above RSI 70, current levels suggest controlled buying pressure rather than exhaustion.
Fibonacci Retracement
Applying Fibonacci to the April-2025 swing low ($18.13) and June-2025 high ($23.78), the 61.8% retracement at $21.85 has provided reliable support during multiple pullbacks, including the June 20 reversal. The 50% level ($21.00) offers secondary reinforcement. Recent consolidation above this zone reinforces its significance, with the July 8 breakout now targeting 161.8% extension near $25.40.
Confluence & Divergence Assessment
Strong confluence appears at $21.85-22.00, where Fibonacci support, moving averages (50/100-day), and volume-backed reversal candles converge. The absence of bearish divergences strengthens the current uptrend thesis. Primary cautionary notes stem from RSI/KDJ nearing overbought territory alongside resistance near the psychologically significant $24.00 level, which aligns with the March 2025 distribution zone. Probabilistically, the technical configuration favors continuation toward $24.50-$25.00 pending sustained closes above $23.38, though overbought oscillators may warrant near-term consolidation before further advancement.