(Finance) – Colorless day for Intelwhich shows a negative percentage change of 0.42% compared to the previous session.
The semiconductor giant has announced the preparation of the IPO of the Programmable Solutions Group (PSG) unit. The programmable chip business is part of the larger Datacenter and Ai Group division and the Santa Clara group’s goal is to list it separately on Wall Street within 2-3 years.
On a weekly basis, the stock’s trend is more solid than that of Dow Jones. At the moment, therefore, the appeal of investors is aimed more decisively at leading chip manufacturer compared to the reference index.
The short-term technical status of Intel highlights an expansion of the positive performance of the curve with the first area of resistance identified at USD 36.27. Risk of possible correction up to the 35.07 target. Expectations are for an increase in the bullish trendline towards the 37.46 resistance area.