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TMCNet:  Watch for Shares of Intel (INTC) to Approach Resistance at $20.15

[December 06, 2012]

Watch for Shares of Intel (INTC) to Approach Resistance at $20.15

Dec 06, 2012 (SmarTrend(R) News Watch via COMTEX) -- Intel (NASDAQ:INTC) has opened bullishly above the pivot of $19.87 today and has reached the first level of resistance at $20.00. Analysts will be watching for a cross of the next upside pivot targets of $20.15 and $20.43.

Potential upside of 17.2% exists for Intel, based on a current level of $20.13 and analysts' average consensus price target of $23.58. Intel shares should first meet resistance at the 50-day moving average (MA) of $21.41 and find additional resistance at the 200-day MA of $25.21.

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 5% above that low price at $20.13 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1%.

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 21.4%. 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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