NVDA, AMD and INTC Forecast – Microchips Look Quiet on Friday

NVDA Technical Analysis

Nvidia looks like it’s going to open roughly where it stopped on Friday, as the Friday session will, of course, be the day after Thanksgiving, and a lot of people just simply don’t go back to work. So, volume will be an issue on Friday. I don’t think we’re going to see explosive moves. I could be wrong. Then volume can cause that. But really, at this point, we’re still in this same trading range. Keep in mind that Thursday is the dividend date, the ex-dividend date in this market. It’s not a huge driver for Nvidia. It’s only a penny per share, but you might see a little wobble there. I think ultimately, we’re still stuck between $170 and $200.

AMD Technical Analysis

AMD looks like it will open slightly positively, but we are sitting just below the 50-day EMA. And I think a lot of people are going to be looking at that as a potential barrier. If we can clear the 50-day EMA, then we could go looking at the $230 level. Short-term pullbacks should continue to see buying at the 200-day EMA as it’s a large, round, psychologically significant figure at the top of a gap. Over the longer term, I do expect that we will return to the $260 level, but we might have a little bit of sideways noise between now and then.

INTC Technical Analysis

Intel looks like it is going to jump a little bit at the open, but I would not look for a move past $38.50, at least not in the Friday session. If it gets above there, fine. I think it’s a bullish market, but really, at this point, I think volume will be an issue. The stock market closes early, and of course, this has been a laggard in comparison to the other stocks in general.

We recently broke out of a major range, which had probably best been thought of as malaise. So with all of that being said, I think you’ve got a scenario where you’re buying the dip, but you also have to be very cognizant that this is a company that is still trying to play catch-up with a lot of the other chip makers out there.

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