Intel Corporation (INTC)
Intel starts a new run up.
Intel appears to be ending its long-running bearish cycle. Since Intel’s launch, the stock formed a major high that we label as yellow wave 1, and from that point it entered a broad corrective phase into yellow wave 2. From the early 2000s until the end of 2025, Intel has been shaping this extended bearish wave 2.
We now conclude that this correction has likely been completed, and Intel is preparing to enter a new impulsive phase in yellow wave 3. Based on our Fibonacci projections, this bullish wave 3 should reach our target zone, suggesting that Intel could advance toward levels between the 161.8% extension at $144.11 and the 261.8% extension at $215.84.
If Intel breaks above its local high at $51.28 and then surpasses its all-time high at $75.81, we can more confidently validate our primary long-term scenario and confirm a structural trend shift from bearish to bullish as yellow wave 3 unfolds.
In the short term, we already observe the first impulsive movements—an early signal that a much larger, long-term impulse may now be beginning.
After successfully completing corrective yellow wave 2, Intel has begun to unfold a clean five-wave impulsive structure, forming its first bullish sequence into light blue wave 1. With this initial impulse now in place, we expect Intel to retrace this advance and develop light blue wave 2 within our defined Fibonacci retracement zone. This zone spans from the 50% level at $30.71 down to the 78.6% level at $23.98. Within this area, we anticipate wave 2 to terminate, allowing momentum to shift and initiate a new impulsive advance into light blue wave 3, followed by waves 4 and 5 to complete the cycle.
Trading Plan:
The Fibonacci retracement zone offers a compelling accumulation window for long-term positioning. Should Intel break below its local support at $34.69 (highlighted in red), we see a high probability that price will continue into the retracement zone, where a structural low for wave 2 and a momentum shift is expected to form.
Overall, we remain bullish on Intel—both in the long-term structural outlook and in the short-term setup.
