Intel (INTC) Shares Surge Following Chip Unveiling
Intel (INTC) shares climbed above $44.30 yesterday, reaching their highest level in 21 months. The rally followed announcements made at CES 2026, where the company introduced its new Core Ultra Series 3 processors, codenamed Panther Lake. These chips are Intel’s first consumer products manufactured using the advanced Intel 18A process technology.
Investors interpreted the announcement as a sign that Intel’s ambitious turnaround strategy aimed at regaining technological leadership is beginning to gain momentum. The successful rollout of the 18A node suggests that Intel may once again be able to compete with TSMC at the cutting edge of semiconductor manufacturing.
According to media reports, several analysts have raised their price targets for INTC shares, noting that the new technology increases the likelihood of Intel securing contract manufacturing business from major industry players such as Nvidia and Apple.
Technical Analysis of INTC Shares
On , during our analysis of the INTC chart, we:
- identified a broad, long-term price channel;
- highlighted the significance of the $20 level, which appeared to serve as support from institutional investors;
- noted that the line dividing the upper half of the channel into two quarters could act as resistance.
As shown by the red arrow, this line has indeed functioned as a strong barrier to further upside. Volume dynamics are particularly noteworthy: on two occasions when INTC shares advanced towards this level, we observed:
- a sharp increase in trading volume;
- followed by a subsequent pullback in price.
It is possible that the break above the psychological $40 level, combined with a positive news backdrop, triggered FOMO-driven purchaseing. Institutional investors may be using this wave of demand to take profits on long positions accumulated near the $20 support zone.
Given the long upper wick on yesterday’s candlestick, it is reasonable to assume that the identified resistance level may continue to hold. A third attempt to break above it could once again result in a corrective pullback.
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