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.