Intel will be reporting its first-quarter earnings on Thursday. Wall Street expects one cent in EPS and $12.30 billion in revenues as the company reports after market hours.

The stock is down 39% over the past year, but has gained nearly 4% year to date.

Let's look at what the charts indicate for Intel stock and how the stock currently maps against Wall Street estimates.

Intel Stock Chart Giving Mixed Signals Ahead Of Q1 Earnings

Chart created using Benzinga Pro

Intel's stock chart is sending mixed signals as the chipmaker gears up for earnings. On one hand, the eight-day and 20-day simple moving averages (SMAs) are below the current price of $21.11 for Intel stock, flashing short-term bullish signals. On the other, the longer-term 50-day and 200-day SMAs all sit above the current share price -- at $22.29 and $22.69, respectively -- signaling that Intel stock is still caught in a broader downtrend.

Adding to the caution, the Moving Average Convergence Divergence (MACD) stands at a negative 0.67 and the Relative Strength Index (RSI) is at 50.96 -- both pointing to neutral-to-bearish sentiment. For investors, this means Intel stock could struggle to find momentum unless earnings deliver a real surprise or the cost-cutting narrative gains further traction.

Read Also: Intel Slashes Staff Ahead Of Q1 Earnings, ETFs Brace For Impact

Despite the bearish undertones, the stock surged over 5% midweek following reports that Intel could cut 20% of its workforce -- a move aimed at trimming fat from its cash-bleeding manufacturing division. While layoffs often spook markets, this particular cut is being read as a sign of newfound fiscal discipline under new CEO Lip-Bu Tan, who signaled “hard decisions” were imminent.

In the near term, investors may stay cautious given Intel's weak fundamentals and lukewarm technicals. But if earnings show signs of stabilization or if more restructuring details emerge, bulls could get the catalyst they've been waiting for.

Intel Analysts Consensus Ratings

Ratings & Consensus Estimates: The consensus analyst rating on Intel stock stands at Neutral currently, with a price target of $25. Recent analyst ratings from Wedbush, Bernstein and Barclays have an average price target of $19.67 per share, implying a downside of 7.12%.

INTC Stock Price Action: Intel stock was trading up 3.45% at $21.30 at the time of publication Thursday.

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Photo: Courtesy Intel