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Intel Corp (NASDAQ: INTC) at Important Resistance

|Includes: Intel Corporation (INTC)

January 28, 2011

Shares of Intel Corp (NASDAQ: INTC) are at a resistance level that reversed the September to early December rally.

Back in December INTC reached $22 a share in intra-day trading and reversed, finally declining to $20.26 before again turning higher. The same level held prices back in July.

Intel Corp is a semiconductor chip maker, which develops advanced integrated digital technology products, mainly integrated circuits, for industries such as computing and communications. It is a bell weather in the semiconductor sector.

INTC, which closed at $21.75 on Thursday, January 27, needs to make a decisive close above this level to breakout.

If it does, INTC could see share prices rise to test $24.00 in coming weeks.

The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy does not currently hold a position in Intel.