Intel Corporation : Perfect timing to aim a technical rebound
Entry price | Target | Stop-loss | Potential |
---|
$25.25 |
$0 |
$23.5 |
-100% |
---|
In the past few sessions, Intel Corporation shares have suffered from a sharp fall and is now coming back on significant level support.
From a fundamental viewpoint, the security is cheap with a PER of 10.3x for 2012 and 9.53x for 2013. It is cheaper than the industry average. Besides, EV/Sales is low with a ratio at 2.13x for this year.
Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the USD 24.74 area should stop this trend and allow a technical rebound towards USD 26.13. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.
Considering technical and fundamental elements, it seems to be an appropriate timing to take immediately a long position in order to benefit from the USD 24.7 support area. A first target price will be the USD 26.1 resistance, ie a potential of 3.5%. A stop loss will be placed under the mid-term support currently tested. Only a crossing of USD 26.13 would validate a bullish trend in order to aim a higher target price.
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