The bullish Earnings Play we chose for Thursday April 26th is Intel (INTC). INTC is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 2.13% move lower and its 1m/6m trend has turned bearish on 4/24 but recently bounced higher off its $64 support level.
Intel’s 1m and 6m trends turned bullish on 4/24 and reports earnings tomorrow after the close. With a technical score of 9 (out of 10), INTC is a strong bullish stock that will likely beat earnings and continue higher.
As a stop loss, if INTC was to trade below $48 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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