Intel Breaking Out (INTC)

Intel Corp. (NASDAQ: INTC) is having a very good day as a result of rumors that the company will report strong earnings on April 13 - I am inclined to believe those rumors. The shares have moved 3.64% higher today to $21.92. This is very important from a technical perspective, as there has been significant resistance in this name at the $21 level.

Now that Intel (INTC) has broken this $21 level with conviction, I believe that it is now a strong buy. In fact, it is conceivable that INTC will not trade below this level again. Earnings at the company have been tremendous and it appears as if Intel is performing flawlessly. Furthermore, INTC is a premium name, company, and stock which should hold up well during a market correction. I don't think that this is a stock which is likely to significantly outperform in the near term, but for conservative, long term investors, this is a name you want to own.