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Intel Rises 1.62% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Intel (NASDAQ:INTC) traded in a range yesterday that spanned from a low of $37.53 to a high of $38.05. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $37.72 on volume of 13.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Intel share prices have moved between a 52-week high of $38.36 and a 52-week low of $21.89 and are now trading 73% above that low price at $37.90 per share. The 200-day and 50-day moving averages have moved 0.06% higher and 0.30% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Intel on June 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.90. Since that recommendation, shares of Intel have risen 16.9%. We continue to monitor INTC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Intel

Ticker(s): INTC