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After Yesterday's Rally of 2.85% Shares Could Potentially Pullback

May 18, 2020 (SmarTrend(R) News Watch via COMTEX) --
Intel Corp (NASDAQ:INTC) traded in a range yesterday that spanned from a low of $59.37 to a high of $60.28. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $59.23 on volume of 6.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Intel Corp has traded in a range of $42.86 to $69.29 and is now at $60.09, 40% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of Intel Corp on March 24th, 2020 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $53.00. Since that recommendation, shares of Intel Corp have risen 10.0%. We continue to monitor INTC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to SmarTrend at cs@mysmartrend.com

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