Intel (INTC) could rally a bit more before reversing direction, so perhaps a strategy of being a scale-up profit taking is the way to go. Let's check out the latest charts and indicators to refine the details.
In this daily bar chart of INTC, below, we can see an up-down-up pattern of trading from December.
First a rally of $16 followed by a decline of $17 and then a recovery of $9. INTC is above the bottoming 50-day moving average line and the slightly rising 200-day line. The On-Balance-Volume (OBV) line has followed prices with a rally from October to April, and then a short decline into May. Over the past two months the OBV line has risen, but it is well below its April peak. The Moving Average Convergence Divergence (MACD) oscillator is above the zero-line and rising.
In this weekly bar chart of INTC, below, we can see that prices are just above the slightly rising 40-week moving average line. The weekly OBV line rose in June but it is below the April peak in July. The MACD oscillator has crossed to the upside from below the zero-line for a cover-shorts buy signal.
In this Point and Figure chart of INTC, below, we can see a nearby price target of $53.76 -- well short of its April zenith.
Bottom line strategy: INTC could surprise on the upside, but right now it looks we can see prices rally toward $54 and stall. A strategy of taking profits on strength seems like a good idea.