From the Yahoo article:
"Credit Suisse was actually the first line of reasoning for such an in-depth hidden value review. With the consensus price target much lower, Credit Suisse's John Pitzer maintained an Outperform rating while raising its already bullish $28 price target to $30. He sees growth reaccelerating and said:
We believe Intel is at an important inflection point, which should provide tangible evidence of a robust business model even in the post-PC era. Specifically, we see DCG growth accelerating. In addition, the mix shift towards DCG EPS should drive multiple expansion. Applying a 20 multiple to our DCG EPS potential alone yields a stock price of $30 to $40.
Wait a minute, does that say up to $40, rather than just $30?
Bank of America/Merrill Lynch on September 16 included Intel as a tactical rally candidate, which is more of a chart call than a fundamental call. The team said, "Intel is one underweighted mega cap that has held support and is set up for a tactical rally." The formal Buy rating was last updated at the firm in May, and the fundamental team actually has a $28 price target for Intel.
Standard & Poor's last updated Intel on September 14 with a Buy rating and a $28 price target.
Jefferies raised Intel to Buy from Hold as recently as September 13. The logic was that Intel is gaining on chip sales beyond those for the PC. Jefferies raised the price target to $30 from $27 in the upgrade.
Another upgrade on Intel was missed most while everyone was out for the Labor Day holiday. On August 30 an upgrade to Buy from Hold was issued by the independent research firm of Argus. This was based on Intel's technology leadership, as it should finally make it competitive in the smartphone and tablet market. The firm said that its 14 nm process and 3D transistors should allow OEMs to make room for a competitor to ARM"
There is a very strong fixed resistance point there. Going from 24 to 26 will be easier than getting over 24. Getting past 26 will equally be as hard as getting past 24 as that is where the last of the moving average resistance is. Both will require more time and good news and buying. When the short term moving averages like the 50 MA catch up to the stock price that will also add upward pressure.
CURRENT PRICE 23.74, just below resistance, 24.11 ± 0.24, type Triple+, strength 10
RESISTANCE ABOVE +1.6% at 24.11 ± 0.24, type Triple+, strength 10
+3.7% at 24.61 ± 0.25, type Single, strength 3
+5.7% at 25.1 ± 0.25, type Single, strength 3
SUPPORT BELOW -2.1% at 23.23 ± 0.23, type Double, strength 10
-3.8% at 22.83 ± 0.23, type Double, strength 3
-6.8% at 22.12 ± 0.22, type Single, strength 1
-8.4% at 21.74 ± 0.22, type Triple, strength 10
-10.5% at 21.25 ± 0.21, type Single, strength 1
-12% at 20.9 ± 0.21, type Triple, strength 7
-14.2% at 20.36 ± 0.2, type Single, strength 5