Market Overview

Traders React To Intel's Q4 Earnings

Related INTC
Channel Checks Support The Bull Thesis On Advanced Micro Devices
Weakening Demand Could Pitch AMD, Nvidia And Intel Into Price War
4 Dividend Increases: March 20-24, 2017 (Seeking Alpha)

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


Related Articles (INTC)

View Comments and Join the Discussion!