AMD, INTC and NVDA Forecasts – Chips Look Lively in Premarket

AMD Technical Analysis

The pre-market hours look pretty healthy for AMD, and it does look like it’s probably going to try to make a move to the upside. In fact, we’re probably going to jump about $15 right off the bat. This is a market that’s been very bullish for some time and just looks like it’s going to continue.

I think we eventually find our way toward the $600 level, with short-term pullbacks being buying opportunities, especially with $480 offering a bit of a short-term floor. I’ve got no interest in shorting this market. I think it goes much higher.

INTC Technical Analysis

Intel‘s going to jump pretty significantly right off the bat here on Wednesday. It looks like it’s going to gain somewhere around $8, and I have it heading back toward the $125 level, given enough time. With that, I believe this is a market that remains very noisy, but I think the market is in the midst of consolidation. I recognize that it very well could continue to go much higher, but right now we’re trying to work off some of that previous froth.

NVDA Technical Analysis

Nvidia is going to be slightly positive. Actually, out of the 3, it’s the least impressive. But let’s not forget Nvidia is still one of everybody’s favorites on Wall Street, so one would assume that if the other 2 markets start to rise, Nvidia probably follows sooner or later.

I’ve got no interest in shorting, but if we did fall from here, I would anticipate that Nvidia has $210 as a pretty significant floor, especially as the 50-day EMA is racing toward it right now. All things being equal, I am bullish on all 3 of these stocks.

If you’d like to know more about technical analysis and how traders use it, please visit our educational area.