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INTEL RISES ON RATING UPGRADES - Capital Street FX
Intel is currently trading at 46.49-higher by 4.59% as compared to the previous closing price. In the Premarket trading session, the stock was trading higher by 2.7%. The stock has continued rising after the opening bell.
In recent news, Bank of America upgraded the chipmaker to buy from neutral on Friday. The investment bank said that Intel will outperform its large-cap peers in 2019. Bank of America raised its 12-month price target for the chipmaker to $60 a stock from $52 it had predicted earlier.
On the technical front, the current price is above the MA5 (46.29). The current price is below the middle line of the Bollinger Bands but is heading upwards. The RSI is currently at 49.24% and suggests that the market can move in the upward direction.
TRADE SUGGESTION- LIMIT BUY AT 46.10 TAKE PROFIT AT 47.10 STOP LOSS AT 45.60