April 23, 2021 1:30 p.m.
At yesterday’s close, the ie giant Intel announced its results from 1/2021, showing figures that despite exceeding market expectations, did not fully convince investors of a positive turnaround. During today’s pre-opening, it traded with declines close to 2.75%, about $ 60.85 per share, compared to $ 62.53 at yesterday’s close after a loss of 1.78% during the session.
Specifically, Intel acquired earnings per share of $ 1.39 plus revenues of $ 19.67 billion, against the expected $ 1.14 and $ 17.78 billion. Although it is true that the profit per share exceeds that expected by the market, this is lower than the profit obtained in the results of the same period last year, because in the first quarter of 2021 the company’s profit fell 41% to $ 3.36 billion.
This decrease in profit can be partially explained by supply problems in semiconductors, which causes a shortage of chips due to the COVID-19 pandemic, generating a decrease in production.
Theoretically speaking, we can state that since the middle of last December the price has followed a strong upward trend to reach levels before the onset of the pandemic, although it has not yet reached its levels of historical highs.
It is currently behind the last bullish momentum after hitting annual highs on April 12, which brought it to the 23.6% fibonacci level, breaking its 18-session black moving average.
The loss of this support level would open the doors to a possible major correction to the previous lows in the upper red band, this is its next support level, although as we can see, the price still has several major supports before reaching its 200 -session movement. average. While the price will not rise above its 18-session moving average, we cannot expect a new bullish momentum.
Source: Admiral Markets MetaTrader 5. Intel Daily Diagram. Data range: from December 19, 2019 to April 23, 2021. Prepared on April 23, 2021 at 10:50 a.m. CEST. Remember that past returns do not guarantee future returns
.Price development of the last 5 years:
- 2020: -16.76%
- 2019: 27.53%
- 2018: 1.67%
- 2017: 27.27%
- 2016: 5.28%
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