Watch These Intel Stock Price Levels After Chipmaker’s Earnings Blow Past Expectations
Key Takeaways
- Intel shares hit their highest level in 18 months Friday morning after the chipmaker swung to a profit that sailed past Wall Street expectations, signaling its closely watched turnaround plan is gaining traction.
- Intel shares have consolidated in a rectangle formation throughout most of October, setting the stage for a continuation of the stock’s recent uptrend.
- The measured move technique projects a near-term bullish target of $49. Investors should also watch important support levels on Intel’s chart around $36, $32 and $29.
Intel (INTC) shares rose Friday morning after the chipmaker swung to a profit that sailed past Wall Street expectations, signaling its closely watched turnaround plan is gaining traction.
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