Intel (INTC) shares could appear on 澳洲幸运5官方开奖结果体彩网:watchlists Friday after CNBC reported late Thursday that the embattled chipmaker is considering selling at least a minority stake in its Altera programmable chip unit to raise several billion dollars in cash.

According to people familiar with the matter, the company seeks a deal valued at around $17 billion, slightly above the $16.7 billion it paid for Altera in 2015, the report said. The news comes as the chip giant continues to 澳洲幸运5官方开奖结果体彩网:lose market shares to its rivals and works to hash out a comprehensive 澳洲幸运5官方开奖结果体彩网:turnaround plan.

Although Intel shares have shed more than half of their value since the start of the year as of Thursday’s close, the stock has rallied more than 20% from its early September low amid strategic changes and reports of 澳洲幸运5官方开奖结果体彩网:deal activity.

Below, we’ll take a closer look at Intel’s chart and use 澳洲幸运5官方开奖结果体彩网:technical analysis to p✨oint out price levels worth watching o⛎ut for.

Double Bottom Breakout Stalls

Intel shares broke above the neckline of a 澳洲幸运5官方开奖结果体彩网:double bottom last month on above-average volume to confirm the𒁏 pattern. The stock's price, however,🎉 has failed to gain upside momentum since.

Moreover, the 澳洲幸运5官方开奖结果体彩网:relative strength index sits in neutral territory, signali🐻ng indecision among market participants. It’s also worth noting that while trading volumes have increased in recent trading sessions, they remain below levels of several weeks ago.

Looking ahead, investors should monitor a number of important 澳洲幸运5官方开奖结果体彩网:support and resistance levels on Intel’s chart that will likely ಞgain close attention.

Key Support Levels to Monitor

It’s worth keeping an eye on the $22 level, a location on the chart just below Thursday’s close where the shares could encounter support near the double bottom pattern’s neckline and nearby 澳洲幸运5官方开奖结果体彩网:50-day moving average.

A failure to hold above this level could act as a catalyst for a fall down to $19, where bargain-hunting investors could look for buying opportunities near the prominent August and September troughs that form the double bottom.

Resistance Areas to Watch

If Intel shares move higher from current levels, investors should monitor how the price responds to the $25 area. This region could attract profit-taking near two 澳洲幸运5官方开奖结果体彩网:swing lows that formed🌺 on the chart in Dꦐecember 2022 and February last year.

Further upside momentum could see the shares climb to around $30, a level where investors may be happy to place sell orders near a long-term 澳洲幸运5官方开奖结果体彩网:trendline that connects a series of comparable tradi♏ng levels on the chart from January 2023 through to July 🃏this year.

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