DJIA: Intel (NASDAQ: INTC) share price: the technical analysis

Intel (NASDAQ: INTC) shares remain volatile

In brief: The DJIA: Intel Corporation (NASDAQ: INTC) continues to decline against the U.S. stock market bearish trend.

The DJIA is going down, losing -231.06 points (-2.17%). Intel Corporation (NASDAQ: INTC) is at the mark of 19.37 points, losing -0.45 (-2.27%) today. At the same time, Intel Corp. remained stable until the last moment. Intel (NASDAQ: INTC) shares met our expectations in the first half of July – technical correction is stopped, the price rose above $ 22. However, the bulls’ enthusiasm will not last long, and from mid-Intel shares again came under the sale.

In particular, no further than yesterday Intel shares fallen by 4%. The grounds for such a drop in “organized” Analysis of the three companies have lowered their forecasts for Intel – Barclays, Baird and Miller. It is worth noting that these experts have lowered their forecasts for the price of an Intel to $ 23, $ 22 and $ 24 respectively, ie assuming the existence of a certain upside (previous close of $ 20.65). Therefore, it is clear that with Intel selling out in one session at once to $ 19,82 bidders “overdid”. On the occasion of such sharp fluctuations in prices should consider what we would say the main technical indicators. For Fibonacci fan can see that the price down close to its lower boundary. So in the coming session will observe testing mark of $ 19.7, the more so in the same runs and one of the horizontal Fibonacci levels. In general, it should be noted that for graphics Intel price range $ 19 – $ 20 is quite strong and trudnoprobivaemym, so we do not expect a deep drop in prices below those marks. Rather, the price in the foreseeable future may move in the direction of technically important line, marked in green – the mark of $ 20.5. However, in testing the lower boundary of the fan should definitely follow, because inside the interval $ 19.8 – $ 19 price may still attempt the descent.

Ukrainian Globalist
2010-08-11 17:33, Economics.

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