Billion

Rise

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Intel stock price closed at $36.61 with a gain of 4.18% during the last intraday trading session.</a> </li> 
 <li> <span>2</span> <a>INTC stock has crossed above all the major exponential moving averages.</a> </li> 
 <li> <span>3</span> <a>The year-to-date return of Intel Corporation is 35.37%.</a> </li> 
</ul> 
<p>Intel (INTC) stock has been printing bullish candles for the last six days, rising from the support level of $32.50. The share gained bullish momentum during early July but the move was halted as the price touched $37.&nbsp;</p> 
<p>INTC stock price retraced and corrected the bullish move. Recently, the stock formed support at $32.20 and reinitiated its bullish journey. The previous candle was successful in breaking and closing above the resistance level of $35.70.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/5kbImajCNvVe3jNvfzx01YkJ3sfgqJeN9AJ1AJ-YLR1dId4TFnxO4-AjD6P_0-a4-3kvJE6T9Gf0pdRNBzrAJDQkhBK1PkrLH2iIwIxkIzBWQIRlrVNKYnR8kajocP4YiUV8RLuNg9YwS-aP3jkUBRE" alt="Intel Corporation (INTC Stock): Running Above Q3 Revenue Guidance"> 
  <figcaption class="wp-element-caption">
    Source: INTC Stock Price By <a href="https://www.tradingview.com/x/gWh2tnME/%5C" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>If the bulls can break the major resistance level of $37, Intel stock price might rise toward the next resistance level of $40.40. While, on the other hand, if the price rejects $37, it might retrace back toward the $32 level.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-what-led-to-a-rise-in-intel-corporation-stock-price-strong"><strong>What Led To A Rise In Intel Corporation Stock Price ?</strong></h2> 
<p>The stock price has been surging since last couple of days as the Chief Executive Officer of Intel corporation, Pat Gelsinger, noted that the chip maker has already crossed the mid point of the revenue guidance for third quarter.&nbsp;</p> 
<p>During second quarter financial report release, the company provided the third quarter revenue guidance which was $12.9 Billion and $13.9 Billion. The increase in demand of personal computer processors is helping in boosting its revenue.&nbsp;</p> 
<p>The company expects to earn 20 cent per share in the third quarter. Intel corporation’s client business, which houses its PC sales, is healthy and the inventory levels have dropped to normal levels.</p> 
<p><a href="https://www.thecoinrepublic.com/2023/08/28/intel-stock-price-prediction-will-intc-price-sustain-at-cmp/" rel="noopener noreferrer nofollow">Intel</a> is improving market share in the segment, stated by CEO, Pat Gelsinger. The chip maker also received “a large customer prepay” for 18A manufacturing capacity, a reference to company’s development of 1.8 nanometer production lines, which will be used to produce cutting edge chips.&nbsp;</p> 
<p>The prepayment has helped the company to accelerate the construction of the new chip fabrication facility in Arizona.</p> 
<h3 class="wp-block-heading" id="strong-will-intc-stock-price-continue-rising-higher-strong"><strong>Will INTC Stock Price Continue Rising Higher ?</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/3SohNgi3gjBqNYViT3WV8P4akD_Zjc_AoGPf_6I5bheYuk_-pYCrm7rZnbRuHSdkM7tR_Bb5UL2VWd3tLu8eUFJKseXKldH-vzz8xaLXk5EyJhe9AG_kVBwo_slLQKF6hw21AtixPkpIqesayrfq1l8" alt="Intel Corporation (INTC Stock): Running Above Q3 Revenue Guidance"> 
  <figcaption class="wp-element-caption">
    Source: INTC Stock Price By <a href="https://www.tradingview.com/x/5c6Xutjr/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The <a href="https://www.thecoinrepublic.com/2023/08/28/intel-stock-price-prediction-will-intc-price-sustain-at-cmp/" rel="noopener noreferrer nofollow">stock price</a> has surged above 20, 50, 100, and 200-day exponential moving averages, suggesting strong bullish momentum. The relative strength index (RSI) has also jumped above the 60 mark and currently trades at 63.51, nearing the overbought zone, indicating a strong confluence of bulls over the price.&nbsp;</p> 
<p>Chaikin money flow score has reached 0.18, implying strength and capital inflow in the market. INTC stock price has crossed above the upper band of Bollinger which indicates the possibility of a short-term pullback toward the 20-day SMA of Bollinger.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion&nbsp;</strong></h4> 
<p>The third quarter earnings result is to be announced on 26 October and Intel corporation has crossed the midpoint of the revenue guidance, which is good news for the investors. The market structure and price action are highly bullish.</p> 
<h4 class="wp-block-heading"><strong>Technical levels</strong></h4> 
<p>Major support: $32.20 and $29.80</p> 
<p>Major resistance: $37 and $40.40</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.&nbsp;</p>

Intel Corporation (INTC Stock): Running Above Q3 Revenue Guidance

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Thecoinrepublic.com

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