Watch These Intel Price Levels After Stock Surged 8% Tuesday to Lead S&P 500 Gainers

Intel (INTC) shares soared on Tuesday, pacing gains on the S&P 500, as chip stocks rallied amid hopes that curbs on exports to China could be eased.

The gains for chip stocks—the PHLX Semiconductor Index has risen 2% in each of the past two sessions—come as the U.S. and China hold trade talks this week in London, where officials are reportedly discussing restrictions on exports of various products, including rare earth minerals and chips.

Intel shares gained nearly 8% on Tuesday, closing at just above $22. The stock is up about 10% so far in 2025, outpacing the gains of the S&P 500, but has lost nearly 30% of its value over the past 12 months amid uncertainty over the chipmaker’s strategic direction and inability to capitalize on the booming AI chip market. CEO Lip-Bu Tan, who took over the top spot in mid-March, has launched a major restructuring effort.

Below, we take a closer look at Intel’s price and use technical analysis to identify crucial price levels that investors will likely be watching.

Close Above Key Moving Averages

Intel shares have remained rangebound since gapping sharply lower last August. More recently, the stock found buying interest around the lower levels of the trading range, with the price closing above both the 50- and 200-day moving averages on Tuesday.

Importantly, the move higher occurred on the highest daily volume since early April, indicating buying conviction from larger market participants. Moreover, the rally thrust the relative strength index back above its neutral threshold to signal accelerating price momentum.

Let’s identify three crucial overhead areas to watch if the stock continues to trend higher and also locate a major support level worth monitoring during pullbacks.

Crucial Overhead Areas to Watch

It’s initially worth watching the $23 level. This area on the chart may attract selling interest near last month’s swing high during an attempt to reclaim the 200-day MA.

Buying above this level could see the shares rally toward $26. Tactical traders who employ rangebound strategies may seek exit points in this area near three prominent peaks that formed on the chart between November and March, a location that also marks the top of the stock’s multi-month trading range.

A convincing breakout above the trading range could trigger a rapid move to the $33 level. We projected this target by using the measuring principle, a technique that analyzes chart patterns to forecast future price movements. When applying the analysis to Intel’s chart, we calculate the distance of the trading range in points and add that amount to its top trendline. For example, we add $7 to $26, which projects a target of $33, nearly 50% above Tuesday’s closing price.

Major Support Level Worth Monitoring

During pullbacks in the stock, investors should closely monitor the $19 level. Intel shares would likely attract significant support in this location near the trading range’s lower trendline.

The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info.

As of the date this article was written, the author does not own any of the above securities.