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Intel Stock Holds $98.35 as SK Hynix Talks Put $106.10 Breakout in Focus

Intel Stock Holds $98.35 as SK Hynix Talks Put $106.10 Breakout in Focus

TradingKey – Intel closed September 16 at $101.05, a 4.03% gain from the previous close. According to the supplied chart reference, Intel reached an intraday high of $104.42 on September 16. Intel may test the $106.10 double-top resistance in the near-term given the positive reaction to reports of preliminary SK Hynix talks. SK Hynix is in talks to utilize a portion of Intel’s memory manufacturing facilities in Ohio. Intels’ future is tied to its ability to manufacture chips using advanced processes and to attract external manufacturing customers.

SK Hynix Talks Target Intel Foundry’s Biggest Weakness

The talks may be aimed at leasing a portion of Intel’s Ohio fabrications or forming a joint venture with Intel and large cloud…

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