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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Intel (NASDAQ:INTC) based on the price action in the company's shares. Yesterday's price range of $30.36 and $30.69 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 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 17.3% exists for Intel, based on a current level of $30.61 and analysts' average consensus price target of $35.89. The stock should run into initial resistance at its 200-day moving average (MA) of $31.27 and subsequent resistance at its 50-day MA of $31.30.

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

Over the past year, Intel has traded in a range of $21.89 to $37.90 and closed yesterday at $30.61, 40% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

SmarTrend is tracking the current trend status for Intel 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

Ticker(s): INTC