Intel Stock Shows Strong Momentum Despite Recent Pullback

Intel’s stock has caught the market’s attention lately, climbing steadily with barely any downward correction despite broader market swings. On September 29th, shares dipped 2.15% to $34.74, but they’re still trading near their highest point in over a year. This strength shows how investors are responding positively to Intel’s aggressive global expansion efforts and its push into AI technology.

Trader @fundmyfund captured the mood perfectly, noting how Intel’s CEO has been making the rounds globally “in a T-shirt saying ‘Don’t hate the playa, hate the game.'” It’s a reflection of Intel’s renewed confidence as it fights to stay competitive in the chip industry.

What the Charts Tell Us

Intel’s daily chart reveals a sharp climb from the $28-29 range in mid-September to recent peaks above $35. Several technical factors point to continued strength: the stock broke through resistance at $30 and $32 with solid buying volume; short-term moving averages are stacked bullishly with the 5-day at $33.21 and 9-day at $31.44 sitting well above the 21-day at $28.47; trading volume hit 119 million shares on September 29th, showing institutional interest; and the MACD indicator continues trending upward, suggesting momentum hasn’t faded despite the recent red candle. The rally has been remarkably steady, with very little “give back” so far.

Why Intel’s Moving Higher

The rebound isn’t happening in a vacuum. Demand for AI and data center chips has reignited interest in established chipmakers like Intel. The company has also been actively pursuing manufacturing partnerships and government subsidies worldwide, which resonates with investors looking for long-term stability. CEO Pat Gelsinger’s bold, informal approach—including his casual attire at industry events—has been taken as a sign of confidence during what’s clearly a transitional period for the company. These elements have created a blend of genuine optimism and speculative energy, helping Intel reclaim some relevance in a space that’s been dominated by NVIDIA and AMD.

Looking Ahead

Today’s pullback is modest, and the technical picture suggests momentum could persist if the stock holds above $33. Strong volume and positive sentiment might push shares toward the $36-37 area soon. That said, sharp rallies like this often invite equally sharp corrections. If selling picks up, a retreat to the 9-day moving average around $31 wouldn’t be surprising.