Shares of Intel Corp (INTC) are a sell into earnings because of pretty basis technical analysis. First, the stock is extremely extended in the near term, having rallied from $44.50 in August 2019 to its current $63.68 high today. However, while that move is insane it does not directly give a sell signal. The metric you want to take note of is the channel. Price has tagged the high end of the channel heading into earnings and this has been a sell signal every time. In addition, while all the past hits of this upper channel line have been sell signals, Intel Corp is the most extended it has ever been for this hit.
This alone screams a pull back coming and is why it is a sell into earnings. Look for the stock to drop on and after earnings back to $59.50 near-term. Investors and swing traders can take advantage of this by shorting the stock or buying puts.
Members just banked a 14% profit on $LABD (3x ETF Biotech short) inside Verified Investing Alerts. Net profits in just January to members are nearing 100%. These are VERIFIED trades and there is over a decade of Verified Track Records to prove the long time success. Check them out on the Verified Investing Alerts page. Master Trader Gareth Soloway gives his EXACT entry price and exit price on every trade. Members recieve these alerts via email/text within second of his entry. Members have made millions by following these trades. Join today and profit for life! Read reviews HERE.