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Intel Stock Coming Off the Bottom On Rising Large Players Volume

Rumors are circulating that Intel’s 10nm production ramp is happening more quickly than expected and may even beat AMD to market. This flies in the face of rumors over the last few months that AMD was rapidly stealing market share from Intel because of Intel’s 10nm chip production delays. Analysts at BlueFin Research said that 10nm production ramp could happen before June 2019.

Intel has a piece of the fastest growing tech industries like IoT, data-centers, AI, automation, and AR/VR.

Intel trades at an excellent valuation with a PE ratio of 11.95, a Forward PE of 11.22.

Now that we have entered the seasonally strong time of year for Technology stocks, Intel stock could make a move to $64 over the next 12 months.

I first profiled Intel stock on January 2, 2018. We are only up about 3 percent in the position.

INTC stock

Large players volume has had a big surge over the last few weeks. The Twiggs Money Flow suggests that INTC stock could continue to chop out sideways for a bit longer.

INTC stock does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at $48.14. Right above this resistance zone may be a good entry point. There is a support zone below the current price at $47.59, a stop order could be placed below this zone.

Disclosure: I do not hold any position in INTC stock.

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