Intel Corporation designs, manufactures, and sells integrated digital
technology platforms worldwide. It operates through PC Client Group,
Data Center Group, Internet of Things Group, Mobile and Communications
Group, Software and Services, and All Other segments. The company’s
platforms are used in various computing applications comprising
notebooks, desktops, servers, tablets, smartphones, wireless and wired
connectivity products, wearables, transportation systems, and retail
devices. It offers microprocessors that processes system data and
controls other devices in the system; chipsets, which send data between
the microprocessor and input, display, and storage devices, such as
keyboard, mouse, monitor, hard drive or solid-state drive, and optical
disc drives; system-on-chip products that integrate its central
processing units with other system components onto a single chip; and
wired network connectivity products.
Take a look at the 1-year chart of Intel (Nasdaq: INTC) below with the added notations:
INTC rallied nicely from March until its $35 peak (blue) and
September, and then pulled back into October. Then, another rally took
the stock to a new high at $37 in November, which is when the stock
started testing the $35 level as support. INTC’s break of that $35
support in January probably means a bigger move lower has started.
The Tale of the Tape: INTC has a key level at $35. A
trader could enter a long position on a break back above $35 with a
stop placed under the level. However, a short trade could be made
instead if the stock rallies up to $35.
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