Wednesday, 14 October 2015

INTC - reversing higher

Intel (INTC) earnings were initially used as an excuse for a sharply lower open (intra low $30.85), but there was a very significant reversal, with INTC settling significantly higher, +2.4% @ $32.81. There is strong resistance across the 32/35 zone.

INTC, daily

INTC, weekly

INTC, monthly


All things considered, today's net daily gain bodes very well for INTC in the near term.. not least as the broader market has seen a touch of weakness across the last few days.

If INTC can somehow manage a few daily closes in the $35s it would bode for a grander change of trend in the main market.. and offer much higher levels for next year.

*I have no current position in INTC, but it remains one of my top 3 tech stocks.