How Intel stock can trouble its tech boom high
Its share price surged this year, and our technical analyst thinks records could fall if it does this.
25th April 2019 09:24
by Alistair Strang from interactive investor
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Its share price has surged this year, and our technical analyst thinks records could fall if it does this.
Intel Corp (NAS:INTC)
There's a certain brand loyalty which Intel generated. An abiding memory from early 1983, rushing back from Edinburgh, Scotland with an IBM XT computer, fitted with an Intel 8088 processor and a massive 10mb hard disk. This marked the start of a relationship with Intel processors which continues to this day.
Intel (NASDAQ:INTC), due to issue an earnings report tonight (Thursday 25 April), appears to have a share price with some reasonable growth potentials.
From an immediate standpoint, apparently price movement now above $60 should bring continued growth to an initial $63. Slightly more interesting is our secondary calculation which comes in at $67.
To be honest, the point at which the share closed on Wednesday ($58.72) already makes travel to $67 seem a sensible conclusion.
Our perspective, using our software and attempting to mimic market software's future price cycle, is slightly terrifying at this stage, due to the potential of a movement coming within 24 hours! Usually, we prefer some weeks or months in which to rehearse excuses!
For any trouble to be taken seriously, Intel requires to flop below $55, this is looking capable of reversal to an initial $51. If broken, our secondary drop target calculates at $45.5. Neither drop potential is particularly life threatening as the price requires below $40 to break the immediate growth cycle and utterly trash its upward potentials.
We like Intel and, of course, the memory of that first "proper" PC with Intel Inside reminds us of the original solid IBM keyboard. What the heck has happened to keyboards over the years? The quality and feel has declined and even our in-house choice, Microsoft Sculpt Office keyboards and mice rarely last longer than 18 months...
Source: Trends and Targets Past performance is not a guide to future performance
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
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