| 2016-10-18 13:23:05|
INTC 13:23 10/18 10/18/16
Intel technical comments ahead of earnings
The shares are trading close to 52-week highs ahead of earnings. Pulling back to a 10-year plus view of the chart shows that the stock is in a very slow rounding bottom formation that has recently picked up momentum. If the news is strongly positive, the first major resistance hurdle will be at the $40 area. On a breakout above $40, next resistance would be at $41.25 and then at $42.94. If the news is instead a negative surprise, a breakdown in price below $36 would break the uptrend support line in place since the move off the lows of May of this year. Next supports below to watch as potential downside objectives would be at $35.15, $34, and $32.38.