Intel Corporation (NASDAQ:INTC) stock is currently at its highest level since April, trading at $34.17 with a 0.5% increase. This marks the fifth consecutive daily gain for the stock, which saw its best daily percentage gain since November in the previous session. INTC is also set to close above the 80-day moving average for the first time in over three months, although it is still in a deficit of 31% for 2024.
Despite the recent gains, analysts are still cautious about Intel shares, with 28 out of 34 analysts rating it as a “hold” or worse. This indicates that there is room for improvement among brokers. Options traders are showing bullish sentiment towards the stock, with a significant increase in call options trading compared to puts. The most popular contract is the weekly call option expiring on 7/12 at the 35 strike, with new positions being opened in it.
Overall, Intel Corporation stock is showing positive momentum, with investors responding favorably to recent developments. The stock’s performance is closely monitored by analysts and traders, who are keeping a close eye on any potential shifts in market dynamics.
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https://www.schaeffersresearch.com/content/news/2024/07/09/intel-stock-eyes-5th-straight-call-traders-respond
