Intel - 52 Week Low

Published on Friday, 27 August 2010 12:37 Written by Christopher Lynn

New York, August 27th (TradersHuddle.com) - Shares of Intel Corporation (NASDAQ:INTC) booked a new 52 week low by trading below $18.12, traders are definitely monitoring Intel's price action to see if this move attracts further selling, or it this last push down sets a tradable bottom in the stock.

Intel Corporation (NASDAQ:INTC) designs, manufactures, and sells microprocessors, chipsets, embedded processors and microcontrollers, flash memory products, graphics products, and other computer related components. The largest chipmaker in the world was founded in 1968 and is based in Santa Clara, CA.

Intel is currently trading 1.16% versus its previous trading session close, and it has calculated support and resistance at $19.08 and $21.98 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading higher by 1.27% from its previous trading close, which means that Intel stock is underperforming the overall market.