AMD, INTC and ORCL Forecasts – AI and Tech Moving Early on Thursday

Advanced Micro Devices (AMD) Technical Analysis

AMD looks like it is going to be a little bit softer at the open here on Thursday as we continue to see a lot of noisy behavior. Ultimately, I think this is a situation where traders are looking for value, and I think they are going to get that opportunity. The $400 level below I believe ends up being a bit of a short-term floor in the market. So, if we do drop from here, I am more than willing to get involved and start buying. I have no interest in shorting AMD; it is far too strong.

Intel (INTC) Technical Analysis

Intel looks like it’s going to open a bit soft as well, but I would be very interested in getting closer to the $100 level if we get anywhere near there. There’s also an argument to be made for the $110 level to be of importance as well as the bottom of the gap that we had formed from the previous session. Either way, what I’m trying to do here is the same thing I’m trying to do over in AMD. I am looking to buy the right-hand side of the V. I’m not interested in shorting this market whatsoever. I think $100 ends up being your floor.

Oracle (ORCL) Technical Analysis

Oracle, bucking the trend here, looks like it is going to jump a little bit at the open. I think it’s trying to get back to $200. We’re sitting right around the 200-day EMA and, as a result, I think you’re probably going to continue to see a lot of choppy and noisy behavior, but I do think we eventually break out to the upside.

If and when we do, getting above the $200 level could really start to put a lot of momentum into this market, perhaps even sending it towards the $222 level.

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