Intel - daily timeframe highlights support for a potential push towards 2023's high

Intel shares are trading at around $49.22 a share ahead of its earnings tomorrow. Looking at the chart based on a daily interval, we can see that the price retraced towards the supportive trendline and it is now rising higher. Support was formed at $45.65. Intel reached a high of $51.27 last year before some profit-taking took place at the start of January, its price is now 3.75% again from 2023’s high. A positive earnings report could provide the boost break through the resistance of $51.27. The MACD indicator seems like it could now turn positive as the negative volume has lowered, though it is still negative. But the RSI is positive as it reads 62, nevertheless, these are lagging indicators and other factors should be factored in before entering positions. A break above $51.27 would then allow the bulls to target $52-$53, based on the daily timeframe. A fall and close below $49.09 could then see yet another pullback towards the support along the trendline, reading $47.63.