INTC:B-Wave Rally Targets 42-45 Amid Foundry Momentum

Intel (INTC): B-Wave Rally Targets 42-45 Amid Foundry Momentum

Published: Nov 29, 2025 | Bullish Bias | Elliott Wave Setup

Intel (INTC) is staging a compelling B-wave rebound from its A-wave low at $33, breaking above the $40 Fibonacci 78.6% retracement and ascending wedge upper channel.

Yesterday (11/28)'s close at $40.56 (+2.3%) on 1.9B shares confirms bullish control, with MACD golden cross at 0.934 signalling momentum shift. RSI at 64.5 shows bearish divergence risk—watch for >70 overbought pullback to SMA channel support (~$36).

Technical Breakdown:
• Wave Structure: Primary count (light blue): A-C correction complete; B-wave (zigzag) underway, targeting up to 100% retrace at $42.48 (A-high test)—break above invalidates ABC, signalling impulse wave (e.g., Wave 3 start) with higher targets (45+). Extension to 123.6% ($44.72) unlikely without invalidation, but possible if Q4 earnings beat (Jan 2026). Alternative (dark red): Bear divergence leads to C-wave failure below $38, probing $30-33 baseline.
• Key Levels: Support $38 (secondary)/$33-35 (major); Resistance $42-45 (sell trim zone). Volume surge (+60% avg) validates upside—sustain >2B shares for conviction.
• Indicators: MACD bullish (high-position cross as B-trap escape); Stochastic neutral (18.7, room to run).

Fundamentals Fueling the Move: Q3 revenue beat ($13.7B) and AI PC shipments (>1B units by 2025 end) underscore Foundry pivot. Apple chip rumors and CHIPS Act tailwinds add catalysts, offsetting TSMC litigation noise (neutral short-term). Consensus "Hold" (target $34.84) undervalues rally potential—Tigress eyes $52.

Momentum Notes: If Q4 Foundry >20% growth, extend to $44-48 (2025 match). Position for 1-2 weeks; rotate profits to TSLA on pullback. Bullish until $38 break—watch FOMC Dec 18.

Disclaimer: This analysis is for educational purposes only and is not investment advice. Please do your own research (DYOR) before making any trading decisions.