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Traders React To Intel's Q4 Earnings

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Intel Corporation (NASDAQ: INTC) beat Q4 earnings expectations Thursday and the stock was up modestly by Friday afternoon.

Trader Rod David asked: “Is [hedge fund manager] Jim Chanos looking at the massive, toppish, Descending Triangle that defines December's price action into January?”

David then suggested: "Apparently the market doesn't believe tablet shipments can rise enough to merit a rising stock price. Perhaps the stock's bearish picture is a function of other categories whose goals aren't being raised.”

Richard Suttmeier, meanwhile, observed that Intel “is above its 50-day and 200-day simple moving averages at $36.02 and $32.34, respectively. The weekly chart stays positive but is overbought given a close today above its five-week moving average at $36.23. The 200-week simple moving average is at $25.45.”

“Semiannual and annual value levels,” according to Suttmeier, “are $33.94 and $30.01, respectively, with quarterly and monthly risky levels at $36.95 and $41.24.”

Intel Corporation recently traded at $36.22, up 0.10 percent.

Posted-In: Richard Suttmeier Rod DavidShort Sellers Technicals Trading Ideas

 

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