Late night check on Intel.
INTC closed at $123.86, up 1.71%. Range was $120.08 to $124.09. Volume was 108M – in line with average. After-hours held near $124.
Overnight hovering around $124.09, basically flat – holding the gains.
Here's the GEX setup:
Put Wall $120, Call Wall $128, gamma flip around $110.76. Yesterday's close at $123.86 is sitting above the Put Wall but below the Call Wall – positive gamma, and $128 is the next test.
Technically, we're near the upper Bollinger band ($120.05) – extended after the run. RSI in the mid 70s. MACD positive and widening.
What drove it: Meta's Muse agent revived the "AI needs a lot of CPUs, not just GPUs" tape. Reports that Intel is only covering about half of AI-related CPU demand added a shortage/pricing angle. Foundry is the longer option – 18A yields tracking better internally, EMIB packaging yields stepping up, plus talk of an SK hynix U.S. fabrication angle. Tigress has a $145 target.
The split: bulls see $130 then a retest of $140-142 if the CPU squeeze holds. Bears note RSI is stretched after a 25% five-day sprint, foundry still losing money on a GAAP basis, and consensus targets are clustered around $100-116 – meaning the stock is trading above a lot of published numbers.
Short-term, $120 is first support. $124-125 is the lid until it clears with volume. $130 is the next confirmation. $142 is the overhead magnet.
I'm treating $124 as a pause after a vertical week, not a finished breakout. Need $130 to confirm.
What's your plan – holding above $120 or waiting for $130?
DYOD🫡