TradingKey – Intel Surges Over 9% to Break $100, Can the Stock Reach a New High?

On September 8 Eastern Time, the three major U.S. stock indices generally moved lower, but Intel (INTC) staged a strong rebound against the trend, surging 9.05% to stand at $104.47, not only reclaiming the $100 psychological level, but also recording one of its largest single-day gains in recent times.

The rebound in Intel’s stock price on the first trading day after U.S. Labor Day was not merely a technical bounce from oversold conditions, but rather the result of a resonance between fundamentals and catalysts. Yesterday, market rumors emerged that Intel plans to raise prices on some of its mainstream CPU products by up to 10%, which would mark its third…