Market Analysis: INTC Shares Up 16% in Just One Week

FXOpen

INTC shares have underperformed in the tech sector for years (due to equipment obsolescence and a lack of innovation as well), but last week was the best week since July 2009. The reason for the rise is related to the hype around AI.

According to rumors, the company has released a new processor that shows good results when training neural networks. And one analyst opined that Intel could gain a competitive advantage from its acquisition of chip maker Habana Labs/Gaudi.

INTC's stock chart shows that INTC's stock price bounced off the lower end of a long-term up channel after hovering between USD 25 and USD 30 per share for a long time. It was probably an accumulation range when large market participants formed an investment position. Now we can expect the USD 30 level to serve as support. On the other hand, the strong level of USD 42.50 per share of INTC starting in 2018 could provide resistance.

On Friday, Morgan Stanley analyst Joseph Moore raised its price target for Intel shares to USD 38 from USD 31. But if the bulls continue to act as actively, the target levels for the INTC stock may be raised again.

Buy and sell stocks of the world's biggest publicly-listed companies with CFDs on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Stay ahead of the market!

Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.

forex

Share CFD Trading with FXOpen

Share CFD Trading with FXOpen

Experience ECN technology for deep liquidity and light-speed trade execution

  • Trade with tight spreads
  • Take advantage of low commissions
  • Choose from 4 trading platforms: MT4, MT5, TradingView, or TickTrader
Learn more

Latest articles

Forex Analysis

Bank of Japan Leaves Interest Rate Unchanged

This morning, the Bank of Japan (BOJ) released its interest rate decision, keeping the rate unchanged as widely expected. According to Forex Factory, the BOJ Policy Rate remains at 0.5%.

BOJ Governor Kazuo Ueda noted the following:
→ Japan’s

How Financial Markets Are Reacting to the Escalation in the Middle East
Forex Analysis

How Financial Markets Are Reacting to the Escalation in the Middle East

The exchange of strikes between Iran and Israel continues. However, judging by the behaviour of various assets, market participants do not appear to expect further escalation:

Oil prices are falling. Monday’s candlestick on the XBR/USD chart closed significantly

Oracle (ORCL) shares surge 24% in a week, hitting an all-time high
Shares

Oracle (ORCL) shares surge 24% in a week, hitting an all-time high

Last week, Oracle (ORCL) shares:
→ rose by approximately 24% — marking the strongest weekly gain since 2001;
→ broke through the psychological level of $200 per share;
→ reached an all-time high, with Friday’s session closing above $215. It is possible that

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.