Intel Hires Former Micron CFO As Its Own; Will Stock Continue Upward Climb?

Intel Corp. INTC shares are trading higher Tuesday after the company announced it has named Dave Zinsner as its new CFO. Zinsner formerly held the same position at Micron Technology, Inc MU. Intel has been climbing throughout the early hours of the day Tuesday.

Intel was up 1.11% at $55.82 at last check.

ntel Names Micron Executive David Zinsner As CFO — Analyst Terms The Move As Positive For The Chipmaker

Intel Daily Chart Analysis

• The stock has formed higher lows the past few weeks and is climbing toward resistance in a sideways channel. The channel has created a resistance area near the $68 level and support near the $44 level. These key levels may continue to hold as support and resistance in the future.
• The stock trades above both the 50-day moving average (green) and on Friday crossed above the 200-day moving average (blue). This indicates the sentiment is turning bullish, and each of these moving averages may hold as an area of support in the future.
• The Relative Strength Index (RSI) has been climbing for the past couple of months and now sits at 70. The RSI has now moved into the overbought range and shows that buyers have steadily been moving into the stock.

What’s Next For Intel?

The stock looks to have found a bottom and has started to push back higher once again. If the stock continues to form higher lows, it could go on to break above resistance in the future.

Bulls are looking to see the stock continue to climb and break above resistance.

Bears are looking to see the stock begin to fall back toward support and cross below the moving averages.

Related Link: Intel Bows To Chinese Pressure, Erases Mention Of Xinjiang From Website

Photo: Courtesy of Morton Lin on Flickr