Intel Financial Report for 2016 has surpassed expectations, reaching about $ 60 billion. The Corporation noted that this amount was a record for the company, with an increase noted in all business areas. The biggest growth of + 15% (compared to the previous year) was recorded in a Department that is responsible for the Internet of Things. The company strives to keep up with the market and is constantly investing in new technology - at the moment is focused on Intel 7 nano -meter chips and plans to launch production in the near future. Each year, the company plans to invest in new development of more than $ 20 billion and current financial condition will increase this figure. Against the background of optimistic financial performance at the opening of trading expect strong growth rates Intel shares. All these positive news are reflected in the shares chart. Price tried to storm the last barrier and created a new historical high, but was unable to gain a foothold, and slightly rolled down. If stock investors will continue to buy shares of the company, the new maximum price will be passed again. Therefore, we observe the behavior of the prices, and if the volume of transactions will begin to grow and the price moves higher, then we join the traders that are configured as the bull, opening a long position.
The price is above a simple moving average 200 MA and 20 MA indicating bullish trend.
The MACD trend indicator is above zero level now, indicating bullish movement.
If the resistance level is broken you can use the following recommendation:
• Chart timeframe: Weekly
• The trade recommendation: Buy
• The level of entry into long position: 38.45
• The level of profit and close the position: 39.80 (135 pips)
Possible bullish movement in the breakout of the resistance level 1180
Forex currency pair GBPUSD
Possible bullish movement in the breakout of the resistance level 1.2480
Forex currency pair USDCHF
Possible bearish movement in the breakdown of the support level 1.0040
Forex currency pair USDJPY
Possible bearish movement in the breakdown of the support level 115.40
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