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TMCNet:  Intel (INTC) Approaches New Downside Target of $21.33

[October 12, 2012]

Intel (INTC) Approaches New Downside Target of $21.33

Oct 12, 2012 (SmarTrend(R) News Watch via COMTEX) -- Shares of Intel (NASDAQ:INTC) have bearishly opened below the pivot of $21.69 today and have reached the first support level of $21.51. Investors may be interested in a cross of the next downside pivot targets of $21.33 and $20.97.

Intel (NASDAQ:INTC) has potential upside of 34.2% based on a current price of $21.65 and analysts' consensus price target of $29.06. Intel shares should first meet resistance at the 50-day moving average (MA) of $24.46 and find additional resistance at the 200-day MA of $26.12.

Intel share prices have moved between a 52-week high of $29.27 and a 52-week low of $19.16 and are now trading 13% above that low price at $21.65 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of Intel on August 23rd, 2012 by issuing a Downtrend alert when the shares were trading at $25.26. Since that call, shares of Intel have fallen 14.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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