New York, December 18th (TradersHuddle.com) - Intel Corporation (NASDAQ:INTC) ended the trading session at $20.57, near its 50 day moving average set at $20.90. Intel's price action placed the stock below this important level, which makes it difficult to be bought, as the stock will certainly face resistance as it approaches its 50 day moving average.
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.
The latest price action range, defined by a peaks and troughs algorithm, placed calculated support at $19.23 and resistance at $20.99. These levels will be closely monitored, as they provide great insight into the latest price dynamics.
If traders want to establish a position in Intel, given the resistance expected as the stock approaches its 50 day moving average, a trade might materialize as the stock manages to break this important technical level. After the breakout, the 50 day moving average could be used as support going forward. However, until the break materializes, buying the stock is basically a gamble with 50-50 chance.
- Lockheed Martin Hosts Fifth Annual Day Of Service
- Lockheed Martin Successfully Launches First LRASM Boosted Test Vehicle from MK 41 Vertical Launch System
- U.S. Air Force Ready to Launch Third Advanced Extremely High Frequency Satellite Built by Lockheed Martin
- Lockheed Martin Named To The 2013 Dow Jones Sustainability North America Index
- GPS III And OCX Satellite Launch And Early Orbit Operations Successfully Demonstrated
- F-35: Lifting The UK's Economy
- Lockheed Martin Named One of Top Worldwide Companies for Climate Change Management
- Lockheed Martin To Enhance Transoceanic Air Traffic Management For FAA
- AEHF Expands Global Communications For Allied Missions; Netherlands Makes Call On Protected Communications Satellite
- LONGBOW LLC Receives $51 Million Contract For Republic of Korea Apache Radar Systems
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines