Intel Corp. (NASDAQ: INTC) shares rose on Tuesday Dec 13 with lighter trade volume than normal after more analysts initiated coverage on the stock.
Meanwhile, the Dow DJIA, +0.47% climbed 106 points, or 0.6%, to 19,905. If the Dow finishes higher, it will notch its seventh straight gain.
The S&P 500 index SPX, +0.56% gained 10.45 points, or 0.5%, to 2,267 and the tech-heavy Nasdaq Composite Index COMP, +1.02% added 48 points, or 0.9%, to 5,461.
Both the S&P 500 index SPX, +0.56% and Nasdaq Composite COMP, +1.02% ended lower on Monday, with investors appearing reluctant to push shares higher ahead of the Fed meeting
Analysts at Loop Capital initiated coverage on Intel Corp. (NASDAQ: INTC) stock, rating the company at Buy. Loop Capital currently has a rating of Buy on the stock. As a means of comparison, a number of other analysts have issued reports on the company recently, and the company has earned a consensus one-year price target of $39.88, above the opening price of $36.01, a difference of 10.98 percent. Intel Corp. stock has a 52-week high of $38.36. After initiating coverage,, analysts and brokerage firms will subsequently re periodic updates. Price changes targets are not uncommon.
Intel Corp. (NASDAQ: INTC) shares last traded at $36.33, a spike of $0.36 or 1.00% from the previous closing price. Opening at $36.01, they varied from $35.93 and $36.42 throughout the day.
Intel Corp. (NASDAQ: INTC) now has a market cap of 172.17B.
Intel Corp. (NASDAQ: INTC) Average Daily Trading Volume
2,957,290 shares crossed the trading desk yesterday, lower than normal, out of a total float 4,737,009,000. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify large volume growth or circulation by institutional investors.
While increased trading for short periods will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive cue to market traders that institutions may be moving in, so institutional sponsorship is critical.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain teams of analysts that investigate thousands of stocks, so it is good corroboration to see them taking a postion in a stock you are considering.
Intel Corp. (NASDAQ: INTC) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
Trades for Intel Corp. (NASDAQ: INTC) have ranged from $27.68 – 38.36, and the stock now has a 50-day MA of $34.87 and 200-day MA of $34.85. Today’s last price is 5.29%% under the 52 week high of $38.36.
Earnings growth is a critical factor to look at when buying stocks and investors seek companies that have raised their earnings by at least 25% for 3 consecutive years.
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