Intel Stock Levels to Watch as Earnings Approach
Earnings Preview:
$Intel (INTC.US)$ is set to report its Q3 results this Thursday, with expectations of continued revenue decline due to weaker demand in PC and server chips and rising competition from $Advanced Micro Devices (AMD.US)$ and $NVIDIA (NVDA.US)$.
Investors hope for more updates on Intel’s turnaround strategy, which helped the stock rebound by 23% since early September, although shares are still down over 50% year-to-date.
Investors hope for more updates on Intel’s turnaround strategy, which helped the stock rebound by 23% since early September, although shares are still down over 50% year-to-date.
Technical Levels to Watch:
Support Levels:
$22: This level has been a support base recently and aligns with the neckline of a double-bottom pattern. A dip below $22 could push shares down toward $19, where bargain hunters may find value.
Resistance Areas:
$25: A breakout from recent sideways movement could see Intel climb to $25, where short-term traders may look to lock in gains.
$30: A rally past $25 might target $30, an area of potential selling pressure given historical peaks.
$36: A stronger uptrend could push shares to $36, near the 50-week moving average and the high end of Intel’s trading range over the past year.
$22: This level has been a support base recently and aligns with the neckline of a double-bottom pattern. A dip below $22 could push shares down toward $19, where bargain hunters may find value.
Resistance Areas:
$25: A breakout from recent sideways movement could see Intel climb to $25, where short-term traders may look to lock in gains.
$30: A rally past $25 might target $30, an area of potential selling pressure given historical peaks.
$36: A stronger uptrend could push shares to $36, near the 50-week moving average and the high end of Intel’s trading range over the past year.
With Intel’s earnings on deck, these levels offer a roadmap for potential trading ranges, especially if volatility rises post-results.
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