NVDA, AMD and INTC Forecast – Chip Stocks Looking to Celebrate Potential Talks with China

NVDA Technical Analysis

Nvidia looks like it is celebrating the overall momentum of the markets, and of course, there could be a little bit of a knock-on effect. And now that word has gotten out that the Chinese, in fact, do want to negotiate with the Americans and of course, Nvidia has said more than once that China is a major part of their plans going forward. So, this has a direct influence on what could happen with Nvidia over the longer term.

With that being said, we are between the 50-day EMA and the 200-day EMA indicators, which typically means a little bit of choppiness. If we can break above the 200-day EMA near the $118 level, then I suspect that at that point in time, Nvidia will enter a longer-term uptrend. We are on the precipice of something special here. We’ll just have to wait and see. In the short term, I suspect pullbacks offer buying opportunities.

AMD Technical Analysis

AMD is looking very much like a market that’s trying to rally, but the 50-day EMA has been very difficult, and of course, we are approaching the crucial $100 level. If we can break above the $100 level, then it opens up the possibility of a move to the $112 level. Short-term pullbacks, I do think, offer buying opportunities to a point. That’s only if we see the other microchip stops, it starts to rally. The $90 level should be support, but if we break down below there, then we are just simply stuck in this nasty downtrend that we have been in for some time. So, it will definitely be worth watching here.

INTC Technical Analysis

Intel continues to bounce around as we are in a range. There’s really not much to see here, with the $18 level being a significant floor and the $26 level above being a significant ceiling. We’re currently trading right around the $20 level. So, you would have to lean to the upside, I suppose, but Intel continues to struggle overall, and as a result, I think this is a very slow mover that you need to be somewhat cautious with.

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