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SmarTrend Watching for Potential Pullback in Shares of Intel Corp After 6.11% Gain

Mar 24, 2020 (SmarTrend(R) News Watch via COMTEX) --
Intel Corp (NASDAQ:INTC) traded in a range yesterday that spanned from a low of $51.96 to a high of $54.64. Yesterday, the shares gained 6.1%, which took the trading range above the 3-day high of $50.49 on volume of 16.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Intel Corp have traded between a low of $42.86 and a high of $69.29 and are now at $52.61, which is 23% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Intel Corp on February 26th, 2020 by issuing a Downtrend alert when the shares were trading at $60.05. Since that call, shares of Intel Corp have fallen 17.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to SmarTrend at cs@mysmartrend.com

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