Intel (INTC) NewsBite - INTC Could Be On the Move

Posted: Monday, June 29, 2009 10:32 AM EDT

Intel (INTC) could be on the move today and is now at $16.42, up $.13 (0.8%) on volume of 12,397,547 shares traded. Over the last 52 weeks the stock has ranged from a low of $12.05 in February to a high of $24.75 in August. Intel stock has been showing support around $16.00 and resistance in the $16.58 range. Technical indicators for the stock are bullish and S&P gives INTC a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on INTC the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 13 range. [ABR-Seven Summits Strategic Investments NewsBite]

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