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Possible Bullish Inside Day Candle Pattern Detected for Intel Corp (NASDAQ:INTC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Intel Corp (NASDAQ:INTC) based on the price action in the company's shares. Yesterday's price range of $60.03 and $60.63 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Intel Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 2.4% exists for Intel Corp, based on a current level of $59.15 and analysts' average consensus price target of $60.56. The stock should find resistance at its 50-day moving average (MA) of $62.28, as well as support at its 200-day MA of $53.46.

Intel Corp share prices have moved between a 52-week high of $69.29 and a 52-week low of $42.86 and closed yesterday at 38% above that low price at $59.15 per share. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.3%.

Intel Corporation designs, manufactures, and sells computer components and related products. The Company major products include microprocessors, chipsets, embedded processors and microcontrollers, flash memory, graphic, network and communication, systems management software, conferencing, and digital imaging products.

SmarTrend is tracking the current trend status for Intel Corp and will alert subscribers who have INTC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle intel corp

Ticker(s): INTC