Buy Intel As Stock Reaches 1.5 Year Peak – Earnings Outperform Estimates
In the aftermarket hours yesterday (20/7), Intel unveiled its earnings for the second quarter. The company reported revenue of $13.53 billion for the quarter, compared with the consensus analyst forecast for $13.54 billion. The company posted earnings per share of 59 cents, beating the consensus estimate of $0.53. On the H4 chart, the price has rocketed to a nearly one-and-a half-year high at 35.90. The price action has crossed over moving average from below, suggesting that a bullish trend is in the making. According to the stochastic chart, the %K line has entered the overbought zone far ahead of the %D line, which implies that the buying power is much stronger. The price is anticipated to climb higher.
Buy stop at 35.71, Take profit at 35.90, Stop loss at 35.62