Intel Corporation Shares Hit Six-Week Highs

  • Intel (INTC) is up 9.18%, trading at $21.48 at the time of writing.
  • The rally follows rumors of a possible acquisition.

Intel Corporation shares hit a daily low of $20.79, attracting aggressive buyers who drove the stock price to more than a one-month high of $21.62. Currently, INTC is trading at $21.48, gaining 9.21% on Friday.

Speculation about a possible acquisition sends shares of Intel Corporation soaring

Intel Corporation (INTC) shares are up 9.18% today, hitting highs not seen since December 5, 2024 at $21.62 amid speculation of a possible acquisition by a leading player in the technology sector.

The purchase intentions are not strange for the company. Qualcomm Inc entered into talks to discuss an acquisition last year, although the idea was ultimately scrapped. Similarly, Arm Holdings had approaches to acquire INTC’s products division, however, it was rejected arguing that the business was not for sale.

Intel Corporation Technical Levels

INTC stock reacted higher from support given by the January 13 low at $18.73. The closest resistance is seen at $25.48, the December 2 high. The next key resistance zone is at $26.43, the pivot point of November 8, 2024.

INTC 4-hour chart

Source: Fx Street

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