Intel Corp Finds Resistance Ahead Of Q1 Earnings Release

'' Intel Corp

shares are trading lower by $0.23 at $31.50 in Tuesday's session. The company is slated to release Q1 earnings after the close and the Street is looking for EPS of $0.41. Despite a solid beat in Q4 ($0.74 vs. $0.66), its share price has declined from its January 15 close $36.19 down to $29.41 on March 26, before rebounding back over $30. The companies issuance of lower guidance for FY 2015 on March 12 was the contributing to the sloppy price action over the past month. Ahead of the report, the issue has found a major resistance level to contend with after the report. In the last three trading sessions (including today), it has found willing seller at the $32 level, peaking between $31.94 and $32.05 before falling back to close below it. Also, it put in a pair of highs at the same level back on March 30 ($32.10) and March 31 ($31.93). Although Intel closed at $32 on March 27, it has not closed above this level since March 11, when it ended the session at $32.33.