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Trade idea: Buy Intel Corp. as Nasdaq's rise continues
Serge Berger, aka the "Steady Trader", is looking to buy Intel Corporation as the world's top chipmaker reported pretty decent results last week and it is “holding very well technically”.
Intel Corp's third-quarter results modestly beat expectations, but its current-quarter revenue outlook fell short and the production of its upcoming Broadwell processors was delayed. Intel posted net earnings of $2.95 billion, or 58 cents a share, compared to $2.97 billion, or 58 cents share, in the year-ago quarter. Analysts had expected earnings per share of 53 cents.
Serger says that he doesn’t want to chase Intel Corp “too much”. However, from a relative perspective, he thinks that Intel can continue run higher into year-end.
As a result, he will buy the stock on Monday at 24 USD with the stop at 23 USD with a target of 28 USD.
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Tags: blue oak advisors, chip maker, dollar, earnings, intel corp, nasdaq, nasdaq index, saxo bank, saxo tv, serger berger, tech companies, tech firms, technology, tradingfloor.com, us economy