Intel Corporation (INTC) Forecast

Intel Corporation, #INTC, [NASD]

Technology, Semiconductors, USA

Intel Corporation is an American global technology company and the largest manufacturer of electronic devices and computer components, including microprocessors, system logic sets. Headquartered in Santa Clara, California, USA.

Financial indicators of the company:
  • Index – DJIA, S&P 500;
  • Market Cap – 250.43 B;
  • Income – 19.33 B;
  • P/E – 13.48;
  • Beta – 0.93;
  • ROA – 14.80%;
  • Avg Volume – 20.50 M;
  • ATR – 1.19.

The investment idea is to capitalize on the continuation of the global uptrend with the support of the optimistic financial report of Intel Corporation.

Analytical review:

1. Optimistic report for the third quarter. In late October, the company released a positive quarterly report that exceeded Wall Street analysts' expectations. The company's revenue counted to $19.2 billion and earnings per share were $1.42 (EPS). The tech giant exceeded earnings expectations by $1.13 billion and a profit estimate by $0.18 per share. The company forecasts a total revenue of $71.0 billion worth for 2019 and an operating margin of 30%.

2. Upgrade of institutional funds. Earlier, the major investment funds, Northland Capital and Wells Fargo, raised their forecasts for #INTC stock prices to $65-$69. At the end of the second quarter, the company's top management increased its stake in Intel Corporation.

Analysis of financial indicators and company multiples indicates the possibility of further growth of the issuer.

Trading Recommendations for Intel Corporation Shares
  • Support Levels: 57.00, 55.60, 54.80
  • Resistance Levels: 58.30

The company's shares stabilized near historical highs. At the moment, the issuer is consolidating. The key support and resistance levels are 57.00 and 58.30, respectively. Indicators do not give accurate signals:

  • - The price is testing 50 MA;
  • - The MACD histogram is in the positive zone but has started to decline.

We recommend opening positions from key levels.

If the price fixes above 58.30, the global uptrend is expected to continue. The immediate goal for profit taking is 59.00-60.00. When following positions, we recommend using a trailing stop.

Alternative option. If the price fixes below the round level of 57.00, it is necessary to look for entry points to the market to open short positions. The movement is tending to 55.60-54.80.

by JustMarkets, 2019.11.07

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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