Intel Secures $20B for New Factories: Trading Idea for 22/03/24
Intel Corp., a leading chip manufacturer, is set to receive almost 20 billion USD in the US for the construction of chip manufacturing plants. This investment is part of a program to revitalise the American chip industry, including 8.5 billion USD in grants and 11 billion USD in loans. Federal funds are expected to start flowing by the end of the year.
The US plans to spend nearly 100 billion USD to support the industry, with new plants slated for construction in Ohio, Arizona, Oregon, and New Mexico. The escalating crisis in Taiwan has necessitated these measures amid political risks that local chip production could fall under China's control.
A technical analysis of Intel Corp.'s stock chart is intriguing in light of this development.
On the daily (D1) timeframe, a support level has formed at 41.91, with resistance at 46.61. Since the beginning of February this year, multiple rebounds from this support level have occurred. In case of another rebound, the stock price is highly likely to rise and break through the resistance.
On the hourly (H1) timeframe, long positions might be interesting when rebounding from the 41.91 level, with a short-term target at 41.26. Maintaining a long position up to 56.25 could be considered in the medium term.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The US plans to spend nearly 100 billion USD to support the industry, with new plants slated for construction in Ohio, Arizona, Oregon, and New Mexico. The escalating crisis in Taiwan has necessitated these measures amid political risks that local chip production could fall under China's control.
A technical analysis of Intel Corp.'s stock chart is intriguing in light of this development.
On the daily (D1) timeframe, a support level has formed at 41.91, with resistance at 46.61. Since the beginning of February this year, multiple rebounds from this support level have occurred. In case of another rebound, the stock price is highly likely to rise and break through the resistance.
On the hourly (H1) timeframe, long positions might be interesting when rebounding from the 41.91 level, with a short-term target at 41.26. Maintaining a long position up to 56.25 could be considered in the medium term.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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