• Return to Headlines

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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Intel Corp (NASDAQ:INTC) based on the price action in the company's shares. Today's price range of $66.77 and $67.40 is within yesterday'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. Owners of Intel Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

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.

In the past 52 weeks, Intel Corp share prices have been bracketed by a low of $42.86 and a high of $69.29 and are now at $67.12, 57% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.2%.

Intel Corp (NASDAQ:INTC) is currently priced 9.8% above its average consensus analyst price target of $60.56. The stock should find initial support at its 50-day moving average (MA) of $60.05 and further support at its 200-day MA of $52.52.

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: bearish inside day candle intel corp

Ticker(s): INTC