Connect with us

Hi, what are you looking for?

Metaverse CapitalistsMetaverse Capitalists

Stocks

Is Intel Now A Market Leader?

Well, it might be a little early to anoint Intel (INTC) a leader, but there’s no denying a significant breakout in the chip stock above key price resistance. On November 15, 2022, INTC opened at 30.72 and the stock hasn’t seen an open or close above that level since. There were intraday highs 30.79 on February 3rd and 31.00 on March 17th, but both of those breakout attempts ultimately failed. Yesterday, however, volume accelerated and there was no such failure:

The clear positive on this chart is INTC’s breakout above stubborn price resistance. That sets INTC up for a further advance and I’d be watching two key levels of support for confirmation that an uptrend is in place. The first would be broken resistance/now support at 30.72. That typically holds, but I’ve seen plenty of instances where it doesn’t. So I believe the biggest support is the now-rising 20-day EMA, currently at 28.88. I would fully expect INTC to trade above its 20-day EMA for the foreseeable future. Its relative strength has also improved over the past month and has been accompanied by accelerating volume. I wouldn’t call INTC a leader just yet, but it’s certainly improved among its peers.

I’ll be hosting a quarterly Market Outlook event on Saturday, April 15th at 10:00am ET, to evaluate the current bull and bear arguments. Our FREE EB Digest newsletter community will be invited, so if you haven’t already subscribed, please CLICK HERE to do so. There is no credit card required and you may unsubscribe at any time.

Happy trading!

Tom

    You May Also Like

    Business

    In the UK, the care sector is under incredible strain, it’s good to know there are people working hard to address the issue. One...

    Business

    With the increased threat of industrial strike action looming across the UK, we consider whether a force majeure clause can strike the right chord...

    Politics

    On January 10, the French government announced plans to raise the retirement age from 62 to 64. The change would mean that after 2027,...

    Business

    Facebook is being challenged in the High Court over the personal details it collects on users in a case that threatens the company’s business...

    Dislaimer: pinnacleofinvestment.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 metaversecapitalists.com | All Rights Reserved