INTC, NVDA and AMD Forecasts – Chips Look to Recover on Tuesday

Intel Technical Analysis

The market for Intel looks like it’s going to be positive on Tuesday based on pre-market trading, but be careful, Thursday is the earnings call and that obviously will have a major influence on what happens next.

More likely than not, I think we’re going to see some consolidation after this massive shot higher from $43, so I look at this more or less as neutral with a positive tilt, recognizing that the next couple of days could be somewhat choppy.

NVDA Technical Analysis

NVIDIA looks like it’s going to rally again. It doesn’t have an earnings call for quite some time and as a result, I think it’s free to continue to climb higher with risk appetite. Short-term pullbacks continue to be buying opportunities with the $195 level underneath being support.

We could go looking to the $210 level given enough time. It might take a minute to get there, but after the action on Monday, it shows just how strong this stock truly is and I think we are trying to race to the upside yet again as AI in general has done fairly well.

AMD Technical Analysis

AMD looks like it’s going to try to recover a little bit during the trading session here on Tuesday, as we are positive in the pre-market. Ultimately, we’re trying to get to the $300 level. The $266.50 level underneath continues to be support.

AMD is overbought a lot like Intel, so don’t be surprised if we spend some time going sideways. Your earnings call is not until the 5th of May, so it’s going to take a minute to really affect the market, but that is something to keep in the back of your mind. A little sideways action working off some of that excess froth is what I see for AMD.

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