Key Takeaways
- Intel shares soared 10% in extended trading Wednesday after the company named former board member and chip industry veteran Lip-Bu Tan as its new CEO.
- Since gapping sharply lower in early August last year, the stock has remained mostly rangebound, potentially carving out a market bottom.
- Investors should watch crucial overhead areas on Intel’s chart around $22, $26, and $30, while also monitoring a major support level near $19.
Intel (INTC) shares soared in extended trading Wednesday after the company named former board member and chip industry veteran Lip-Bu Tan as its new CEO.
Tan, who is the former CEO of chip software company Cadence Design Systems (CDNS), will succeed interim Co-CEOs David Zinsner and Michelle…
