AMD, NVDA, and INTC Forecasts – Semiconductor Stocks Test Key 50-Day EMA Support

AMD Technical Analysis

Advanced Micro Devices looks like it’s going to see a little bit of positivity in pre-market trading on Friday as we continue to grind back and forth in consolidation after that monstrous move over the last several months. The 50-day EMA has proven itself to be support. The $500 level right above there has also shown itself to be support, so watching this, I’d be very interested in any signs of value being offered to the market on a pullback and a bounce. To the upside, the $600 level is a large, round, psychologically significant figure that it looks like the market’s interested in, but just hasn’t been able to get to.

NVDA Technical Analysis

Nvidia looks like it’s going to be slightly negative at the open, but it did see a nice bounce during the previous session. If that momentum can be found again during the day, that would be a positive sign. So far, it looks like the neighborhood right around $210 to the $215 region is significant resistance. Clearing that would be bullish. The 50-day EMA sits just below the candlestick from the previous session, so that should be paid close attention to. Ultimately, this is a market that is choppy and noisy, but it’s likely that the stock for Nvidia will continue to pay attention to the AI trade in general, which of course, it has a fairly strong foothold in.

INTC Technical Analysis

The market for Intel is positive early during the session. It looks like it’s going to jump pretty significantly, maybe about $4 or roughly 4% from the close, and if that’s going to be the case, one would have to say that’s pretty healthy. The 50-day EMA sits at the $107 region, $108 or so, and this is a market that will, more likely than not, pay close attention to it based on recent market memory and the way it’s behaved around this indicator.

Regardless, the $100 level, I think, is going to remain important as well from a psychological standpoint. This looks like a market that’s trying to turn things around, but it is worth noting that the last couple of days have seen shots higher that have been faded pretty significantly later in the session.

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