Intel Corp. (NASDAQ:INTC) stock rose about 5% in Monday’s premarket trading as chip stocks gained alongside the broader market.
71%. 81%.
Intel is benefiting from a risk-on market backdrop as traders move into technology and semiconductor stocks. The stock also enters Monday with strong momentum.
Intel shares have gained about 278% over the past 12 months. That sharp rally has kept momentum traders focused on the stock.
However, it has also pushed Intel well above several key moving averages. Recent company-specific developments have also supported interest in Intel.
S. IPO, Benzinga reported Saturday.
Reuters also reported Sept. 16 that SK hynix Inc.
(NASDAQ:SKHY) was in early talks about potentially producing memory chips at Intel facilities. 87.
16. 09 remains above the 200-day average.
That supports the longer-term bullish trend. However, the 20-day average remains below the 50-day SMA, suggesting some near-term consolidation.
Momentum is improving. The MACD is above its signal line, while the histogram is positive.
That suggests buyers are gaining strength. 50.
50 represents an important support area. 53 if the stock pulls back.
74. Tigress Financial raised its price target to $145 and maintained a Buy rating on Sept.
15. Piper Sandler initiated coverage with a Neutral rating and $110 target on Sept.
10. Northland Capital Markets upgraded Intel to Outperform with a $120 target on Sept.
8. 93 on the Benzinga Edge scorecard.
The reading reflects the stock’s strong price trend relative to the broader market. However, after its steep advance, traders will be watching whether INTC can hold key support during any pullback.
ETF Exposure INTC is a major holding in several technology ETFs. 68% weighting in Intel.
56% weighting. As a result, flows into or out of those funds can also influence shares.
97% at $114 in Monday’s premarket trading, according to Benzinga Pro data.
