Intel shares close lower on Monday, tech company extends partnership with GE Healthcare

Intel Corporation (INTC) reportedly extended partnership with GE Healthcare, which is aimed to improve patient care via cloud solutions. Both entities also intend to invest in the Joint Performance Acceleration Lab in Chicago, where a number of GE Healthcare Imaging hardware and software solutions are to be developed, tested and validated.

Intel shares closed lower for the fourth time in the past six trading sessions on Monday. The stock went down 0.58% ($0.26) to $44.49, after touching an intraday low at $44.27, or a price level not seen since October 30th ($43.88).

In the week ended on November 26th the shares of the technology company added 0.27% to their market value compared to a week ago, which marked the 11th gain out of 13 weeks. Yet, it has been the smallest increase since the week ended on October 15th.

Due to yesterdays drop, the stock has extended its loss to 2.20% so far during the current month, following a 19.46% surge in October. The latter has been a second consecutive monthly gain and also the largest one in more than ten years.

For the entire past year, the shares of the NASDAQ-listed tech giant rose 5.28%. The stock has gained another 22.66% so far in 2017.

In an attempt to reduce imaging device ownership costs by as much as 25%, GE Healthcare is to use the Xeon Scalable platform provided by Intel.

GE Healthcare’s imaging solutions combined with the platforms capabilities are expected to cut short radiologists’ reading times to less than 2 seconds for a first image display and less than 8 seconds for a full study.

According to CNN Money, the 35 analysts, offering 12-month forecasts regarding Intel Corporation’s stock price, have a median target of $47.00, with a high estimate of $58.00 and a low estimate of $32.00. The median estimate is a 5.64% surge compared to the closing price of $44.49 on November 27th.

The same media also reported that 23 out of 41 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 – $44.52
R2 – $44.55
R3 (Range Resistance – Sell) – $44.58
R4 (Long Breakout) – $44.67
R5 (Breakout Target 1) – $44.78
R6 (Breakout Target 2) – $44.82

S1 – $44.46
S2 – $44.43
S3 (Range Support – Buy) – $44.40
S4 (Short Breakout) – $44.31
S5 (Breakout Target 1) – $44.20
S6 (Breakout Target 2) – $44.16

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

Central Pivot Point – $44.80
R1 – $45.17
R2 – $45.59
R3 – $45.96
R4 – $46.33

S1 – $44.38
S2 – $44.01
S3 – $43.59
S4 – $43.17