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.

Latest from Shares

AAPL Share Price Rises Nearly 1% after Scrapping Electric Vehicle Plans AMZN Share Price Hits 25-Month High After Inclusion in DJIA Index NVDA Share Price Soars 11% after Report TSLA Share Price Rises Sharply amid News of Musk's Increased Stake in the Company AMZN Share Price Rises Nearly 8% after Report

Latest articles

Forex Analysis

USD/JPY Technical Analysis: Yen Strengthens after Comments from Japanese Officials

This week has raised alarm bells for USD/JPY market participants who are trading the bullish momentum that has been going on since early 2024 (shown in the blue curved lines on the USD/JPY chart): → Vice Finance Minister Masato

Forex Analysis

The American Currency Resumes Its Growth

The American currency, despite a rather multidirectional fundamental data, resumes growth at the end of February. In the main currency pairs, one can observe both rebounds from key levels and continuation of the main trends. Thus, the USD/CAD pair

Cryptocurrencies

BTC/USD Price Exceeds $60,000 Per Coin

Several factors contributed to this: → Effect associated with the approval of Bitcoin ETF. The media writes that investments in these financial instruments amount to about 9k bitcoins per day, and miners produce only 900 bitcoins per day. The total investment

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. 65.68% 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.