Chip Stocks Forecast – AMD, Nvidia, and Intel Face Key Technical Levels

AMD Technical Analysis

AMD looks like it’s going to be slightly positive in pre-market trading on Tuesday as we are approaching that $450 support level. It seems as if there is a bit of interest in AMD at that level, so simple market support is starting to play out again over the last couple of days. We’ll just have to see if that holds. But as things stand right now, it looks like a market that’s trying to work off some of that excess froth from the shot higher.

NVIDIA Technical Analysis

Nvidia looks like it’s going to jump a bit in pre-market trading, and this is a stock that recently got a little bit of a boost due to the idea that SpaceX will be using Nvidia chips exclusively. The new architecture, of course, is something that’s been talked about as well. So Nvidia has recently shown itself to be very strong, but we do have an earnings call coming up on the 26th. So, between now and then, it’ll be interesting to see if there is a little bit of profit-taking. Nonetheless, it looks pretty bullish to me at this point.

Intel Technical Analysis

Intel is going to be a little bit soft pre-market. Nothing of major concern based on this little bit of a drift. We are essentially pulling back from the 50-day EMA and consolidating near the $100 level. As generally speaking, if the microchips start to rise, they tend to drag each other to the upside, but that doesn’t always play out. And Intel could, in theory at least, be a bit of an outlier during the session. Nonetheless, this is a market that seems to have a lot of support underneath it, so noise might be the best way to describe it.

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