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TMCNet:  Intel (INTC) Crosses Pivot Point Support at $20.55

[December 27, 2012]

Intel (INTC) Crosses Pivot Point Support at $20.55

Dec 27, 2012 (SmarTrend(R) News Watch via COMTEX) -- Shares of Intel (NASDAQ:INTC) have bearishly opened below the pivot of $20.74 today and have reached the first support level of $20.55. Should the shares continue to fall, the support pivots of $20.45 and $20.16 will be of interest.

Over the past year, Intel has traded in a range of $19.16 to $29.27 and is now at $20.65, 8% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.2%.

Potential upside of 11.9% exists for Intel, based on a current level of $20.65 and analysts' average consensus price target of $23.10. The stock should run into initial resistance at its 50-day moving average (MA) of $20.75 and subsequent resistance at its 200-day MA of $24.70.

SmarTrend is monitoring the recent change of momentum in Intel. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Intel in search of a potential trend change.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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 http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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