Intel: Bottom Fishing Is Not An Investment Strategy (Technical Analysis)

Nov. 29, 2022 5:15 AM ETIntel Corporation (INTC)AMD, CSCO, MU, NVDA, TSM94 Comments
Mirco Lysek profile picture
Mirco Lysek
1.48K Followers

Summary

  • INTC is in its worst sell-off since the Dotcom crash. Though I don’t see history repeating itself, it’s not a time long-term investors want to be invested in the stock.
  • Bottom fishing is an ego-boosting tactic rather than an investment strategy, but everyone has the choice to feed their ego rather than their portfolio.
  • In this technical article, I show important price levels and metrics that investors could consider for gaining an edge on the stock’s likely price action.
  • This article focuses on technical analysis and based on those aspects, the stock is not yet offering a long-term investment opportunity.
  • While I discuss a short-term buy-strategy, overall, I categorize INTC as a hold position.

money trap concept

BongkarnThanyakij/iStock via Getty Images

Investment thesis

Intel Corporation’s stock (NASDAQ:INTC) is suffering from its worst decline since the burst of the Dotcom bubble. 20 years later, the stock formed a significant double top, from which it got rejected in a massive

Sectors 1M vs 1Y

finviz

Semiconductor Industry and Technology Sector 1M vs 1Y

finviz

SMH vs IXIC 27.11.2022

Author, using TradingView

INTC vs Industry and Peers 27.11.2022

Author, using SeekingAlpha.com

INTC Actual Situation Weekly 27.11.2022

Author, using TradingView

INTC Likely Outcome 27.11.2022

Author, using TradingView

This article was written by

Mirco Lysek profile picture
1.48K Followers
Full-time trader with 18+ years of experience in stocks. Master's Degree in Management specialized in Finance and Strategy. It’s all about managing the risk: Being wrong is unavoidable, staying wrong is a choice. While I enjoy giving my opinion on long-term investment opportunities, my focus is oriented toward momentum and mid-term position trading, as I leverage my proficiency in fundamental analysis and combine selected quantitative metrics and theories in technical analysis.

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: All of my articles are a matter of opinion and must be treated as such. All opinions and estimates reflect my best judgment on selected aspects of a potential investment in securities of the mentioned companies, as of the date of publication. Any opinions or estimates are subject to change without notice. I am not acting in an investment adviser capacity, and this article is not financial advice. I invite every investor to do their research and due diligence before making any investment decisions. I take no responsibility for your investment decisions but wish you great success.

Recommended For You

Comments (94)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.