Intel Corp. (INTC) has been respecting a rising trendline extending back to late 2015. The price has declined to the trendline, and bounced off of it, five times since the start of 2016. In February, the price declined to trendline support at $35 and bounced off it. As of Feb. 21, the stock closed at $36.52. Getting in near that $35 region now will require the price pull back a bit.
On the upside, there is resistance between $37.90 and $38.45. The price has stalled in this area in 2014, 2016 and recently in 2017. If going long, a conservative profit target could be placed in this resistance area. On the other hand, if the price can break through that area, it could move well above $40 in the coming months. A decline below $33.40, though, warns that resistance has likely held and a double-top formation would indicate a decline in the $30 region.
Read more: Three Stocks Trading Near Support (INTC, GIS) | Investopedia http://www.investopedia.com/stock-analysis/cotd/022217/three-stocks-trading-near-support-intc-gis-intc-gis-nwl.aspx#ixzz4ZTDpELzR
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