NVDA Technical Analysis
NVIDIA looks like it’s going to gap higher based on pre-market trading on Wednesday, as we are just about to the point where we have wiped out the losses from the Tuesday session already. With this, it looks like Nvidia is ready to fly to the upside, and this is a market that, of course, everybody seems to be invested in. So, it’s a good sign for the overall market in general.
Short-term pullbacks should remain buying opportunities after we’ve had a couple of days of really nasty volatility. But we also have the 50-day EMA sitting at just below the $178 level, offering a bit of support. I think this is a market that continues to find buyers regardless, and we do grind to the upside. The AI bubble could very well continue to inflate.
AMD Technical Analysis
AMD looks like it’s going to gap to the upside as well, and this is a market that’s probably just going to move with all the rest of them. There is a major gap here, and the latest news, of course, has been that it has partnered with OpenAI for data centers, and that, of course, is a big, big win for the company, and it has been reflected in the price. Any pullback at this point in time, for me at least, looks like a potential buying opportunity in what is one of the stronger stocks that I follow.
INTC Technical Analysis
Intel looks like it’s going to open a little bit higher during the trading session as well, with the pre-market looking fairly healthy. The earnings call is on the 23rd, so we’re not too far from it. That’ll be next Thursday and we could get a little bit of noise between here and there, but that could also end up being a nice buying opportunity on these signs of weakness. This is a market that has jumped extraordinarily quickly and therefore, a little bit of a give back here in this particular stock would not be overly surprising. That being said, more likely than not, ends up being value that people are willing to jump in and chase.
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