INTC Technical Analysis
Intel looks like it’s going to jump in the morning about 30 cents. That is not a huge surprise because, quite frankly, this is a market that’s been in a range for what seems like a lifetime between the $19.50 level and the $25 level, roughly speaking. As we are at the bottom of the range, it makes perfect sense that we would see a little bit of a jump. Ultimately, I do think that we’ll work our way back to the upside, but it is worth noting that the last earnings call was pretty negative. The question is, can Intel find its way back into the favor of Wall Street?
Right now, you could certainly make a little bit of an argument for an accumulation phase that’s been going on for what seems like a lifetime, as volume is higher in this range than it has been for years. But we just don’t have the catalyst. Once we get that catalyst, this will probably be a great stock to own, but for the short term, I think we just got the situation where we’re getting close to the bottom of the range and people were buying from a technical analysis standpoint.
For a look at all of today’s economic events, check out our economic calendar.