Intel shares close higher on Tuesday, tech company reveals Xeon W family of processors

Intel Corporation (INTC) reportedly revealed the Xeon W family of workstation processors, which are expected to be available for sale during the last quarter of this year.

Intel shares closed higher for the third time in the past eleven trading sessions on Tuesday. The stock edged up 0.23% ($0.08) to $34.73, with the intraday high and the intraday low being at $34.74 and $34.47 respectively. In the week ended on August 27th the shares of the technology company lost 0.97% of their market value compared to a week ago, which marked a third consecutive period of decrease, but yet, it has been the smallest drop since the week ended on May 21st. The stock has pared its loss to 2.09% so far during the current month, following a 5.13% surge in July. The latter has been the best monthly performance since September 2016. For the entire past year, the shares of the NASDAQ-listed tech giant gained 5.28%. The stock has retreated 4.25% so far in 2017.

The Xeon W family will replace the E5-1600 series, which have been used in Apples Mac Pro.

Priced at $294, the base Xeon W-2123 version is to offer 4 cores, 8 threads as well as capability to be turbo clocked up to 3.9 GHz.

At the same time, the premium version of the processor is to offer 18 cores, 36 threads and could be turbo clocked up to 4.5 GHz. Its price is still due to be announced.

According to CNN Money, the 33 analysts, offering 12-month forecasts regarding Intel Corporation’s stock price, have a median target of $40.00, with a high estimate of $46.00 and a low estimate of $30.00. The median estimate is a 15.17% surge compared to the closing price of $34.73 on August 29th.

The same media also reported that 20 out of 39 surveyed investment analysts had rated Intel Corporation’s stock as “Buy”, while 13 – as “Hold”. On the other hand, 3 analysts had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Intel stock are presented as follows:

R1 – $34.75
R2 – $34.78
R3 (Range Resistance – Sell) – $34.80
R4 (Long Breakout) – $34.88
R5 (Breakout Target 1) – $34.97
R6 (Breakout Target 2) – $35.00

S1 – $34.71
S2 – $34.68
S3 (Range Support – Buy) – $34.66
S4 (Short Breakout) – $34.58
S5 (Breakout Target 1) – $34.49
S6 (Breakout Target 2) – $34.46

By using the traditional method of calculation, the weekly levels of importance for Intel Corporation (INTC) are presented as follows:

Central Pivot Point – $34.78
R1 – $35.17
R2 – $35.68
R3 – $36.07
R4 – $36.47

S1 – $34.27
S2 – $33.88
S3 – $33.37
S4 – $32.87