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Intel Corporation Message Board

  • billy_ray_valentine billy_ray_valentine Sep 4, 2013 10:28 AM Flag

    Intel (INTC) Breaks Through Resistance

    Intel (INTC) Breaks Through Resistance at $22.22

    Written on Wed, 09/04/2013 - 10:27am

    By David Diaz

    Shares of Intel (NASDAQ:INTC) have bullishly opened above the pivot of $22.09 today and have reached the first resistance level of $22.22. Should the shares continue to rise, the resistance pivots of $22.36 and $22.63 will be of interest.

    Potential upside of 8.0% exists for Intel, based on a current level of $22.36 and analysts' average consensus price target of $24.15. The stock should hit resistance at its 50-day moving average (MA) of $23.04, as well as support at its 200-day MA of $22.24.

    In the past 52 weeks, Intel share prices have been bracketed by a low of $19.16 and a high of $29.27 and are now at $22.36, 17% above that low price. The 200-day and 50-day moving averages have moved 0.09% higher and 0.37% lower over the past week, respectively.

    SmarTrend recommended that its subscribers protect gains by selling shares of Intel on June 25th, 2013 by issuing a Downtrend alert when the shares were trading at $23.76. Since that call, shares of Intel have fallen 7.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

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