SmarTrend Watching for Potential Pullback in Shares of Intel After 1.62% Gain
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.
Over the past year, Intel has traded in a range of $21.89 to $38.36 and is now at $37.90, 73% above that low. 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