Shares of Intel Corporation (NASDAQ:INTC) are down over 1.8% to $29.37 at time of writing, near the 52-week low at $29.09. On a 5-year chart there is a clear potential bearish head and shoulders top that began forming in June 2014. A move below $29 would confirm that that pattern is active. Downside potential for the head and shoulders would be to the $21 to $20 area over time. It would take a move above the right shoulder of the pattern at the $35 area to void the pattern.
In looking at where the stock is trading on a technical level, the stock is trading -8.826% away from its 50 day moving average of 32.076. Based on the most recent available data, the equity is -22.836% off of its 52-week high of 37.900 and +0.533% away from its 52-week low which is 29.090.
In taking a look at the company’s valuation, the firm’s price to earnings ratio stands at 12.461. This is a crucial indicator investors watch as higher ratios compared to peers, would suggest higher future earnings growth potential for the stock. The price to current year EPS estimates from research analysts currently stands at 13.666. In looking further ahead, potential investors should note that the company’s price to next year’s EPS estimates is 12.392.
Today, the stock opened at 29.390 and the last bid at the time of writing stood at 29.245. During the session thus far, the equity dipped down to 29.150 and touched 29.505 as the high point. Intel Corporation has a market cap of 138.74B and has seen an average daily volume of 28600400 over the past three months.