Dow component Intel Corporation rallied to a four-month high on Monday and is set to challenge 2014 resistance that has triggered five failed breakout attempts in the past 15 months. A billion-dollar investment in artificial intelligence is driving the latest uptick, while the company’s major divisions continue to falter due to the long-term exodus out of personal computers and into handheld devices.
The semiconductor giant now ranks in the lower third in Dow Industrial relative strength, stuck in a five-point trading range since a 2016 rally lifted off a deep corrective low in the mid-teens. The stakes are high in the current rally wave, with a breakout clearing the last barrier ahead of an eventual trip back to the 2000 bubble high in the $70s. The test’s timing could be fortuitous, with the tech-heavy Nasdaq-100 now probing an all-time high above 6,000. (See also: Intel Has Invested Over $1B in AI Startups.)
Intel stock lifted to a four-month high and into a test at 2014 resistance, with a breakout opening the door to the all-time high. …read more
Read more here: Intel Stock Awakens After Long Slumber