Intel (INTC) shares jumped 4% in premarket trading on Friday after the chipmaker handily surpassed Wall Street's second quarter top- and bottom-line estimates, driven by the AI boom boosting sales of its server processors. The company, which has seen its shares nearly triple this year, also topped analysts' current-quarter forecasts, soothing concerns of increased AI spending.
Taking a close look at the chipmaker's chart, the shares recently broke down from a rising wedge, a chart pattern that traders interpret as potentially leading to further downside. However, following the better-than-expected results, the price looks like possibly staging a countertrend move to retest the pattern's lower trendline.
If the stock sees post-earnings follow through buying, keep a close eye on the $116 level, a location on the chart where the shares could face selling pressure near the rising wedge pattern's lower trendline, which also currently aligns closely with the downward sloping 50-day MA.
Taking a close look at the chipmaker's chart, the shares recently broke down from a rising wedge, a chart pattern that traders interpret as potentially leading to further downside. However, following the better-than-expected results, the price looks like possibly staging a countertrend move to retest the pattern's lower trendline.
If the stock sees post-earnings follow through buying, keep a close eye on the $116 level, a location on the chart where the shares could face selling pressure near the rising wedge pattern's lower trendline, which also currently aligns closely with the downward sloping 50-day MA.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.