Intel shares fall for a second session in a row on Thursday as chip security concerns continue to persist

Shares of Intel Corporation (INTC) tumbled to lows unseen in a month during Thursdays trade, one day after a security research report revealed personal computers and mobile devices using Intel chips were not invulnerable to hacker-attacks.

Intel shares closed lower for a second consecutive trading session on Thursday. The stock went down 1.83% ($0.83) to $44.43, after touching an intraday low at $42.70, or a price level not seen since December 6th ($42.67).

In the week ended on December 31st the shares of the technology company lost 1.16% of their market value compared to a week ago, which marked the fifth drop out of eight weeks.

The stock has extended its loss to 3.75% so far during the current month, following a 2.94% surge in December. The latter has been the third gain out of four months.

For the entire past year, the shares of the NASDAQ-listed tech giant rose 22.50% following another 5.28% surge in 2016.

A set of flaws was disclosed by security researchers on Wednesday, which could enable hackers to take advantage of sensitive information stored on almost every computing device that is equipped with chips by Intel, Advanced Micro Devices Inc as well as ARM Holdings.

Intel explained that the security issue was not a design flaw, but in order to deal with it, users would have to download a patch and update their operating system.

The tech company also said that the issue would probably not have any impact on its financial performance or market share.

Some analysts expressed similar views on the matter. In a note to clients, Nomura Instinet analyst Romit Shah wrote that the effect on Intel Corps financials and long-term market share was minimal. At the same time, Evercore analysts noted that a material impact on performance was not expected.

According to CNN Money, the 34 analysts, offering 12-month forecasts regarding Intel Corporation’s stock price, have a median target of $48.50, with a high estimate of $58.00 and a low estimate of $32.00. The median estimate is a 9.16% surge compared to the closing price of $44.43 on January 4th.

The same media also reported that 22 out of 40 surveyed investment analysts had rated Intel Corporation’s stock as “Buy”, while 11 – 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 – $44.61
R2 – $44.79
R3 (Range Resistance – Sell) – $44.97
R4 (Long Breakout) – $45.50
R5 (Breakout Target 1) – $46.13
R6 (Breakout Target 2) – $46.46

S1 – $44.25
S2 – $44.07
S3 (Range Support – Buy) – $43.89
S4 (Short Breakout) – $43.36
S5 (Breakout Target 1) – $42.73
S6 (Breakout Target 2) – $42.40

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

Central Pivot Point – $46.20
R1 – $46.45
R2 – $46.74
R3 – $46.99
R4 – $47.24

S1 – $45.91
S2 – $45.66
S3 – $45.37
S4 – $45.08