Back to Basics:
In the investment community complexity bias is prevalent. Sometimes keeping it simple can give one an edge. Within the semiconductor space that theme could be summed up with a potential opportunity in Intel. This is a name that has benefitted from the former CEO Pat Gelsinger coming back to lead the company and putting his money where his mouth is with plenty of insider buying. When compared to major peers AMD and NVDA, it was often left out of the conversation, but that is simply not the case anymore as one can see it has more than held its own versus this duo over the last 100 days. On the WEEKLY chart below it is now breaking ABOVE the doji candle from the week ending 12/1, and negating a bearish candlestick like that is very bullish, and it is now just above a cup with handle pivot of 45.44 in a pattern nearly 2 years long. The MONTHLY chart recorded its first CLOSE above the 50 MONTH SMA in 2 years and for longer-term investors like myself, the 60 area should be a target in mid-2024, where it did hit some very stiff resistance in February 2020 and April 2021. It still carries a dividend yield of 1.1%, after cutting it in February (AMD pays no dividend, and NVDA is well less than .1%). The stock is also seeing heavy call buying at the 50-strike price.