NVDA, AMD and INTC Forecasts – Chops Look to Recover on Wednesday

NVDA Technical Analysis

Nvidia looks like it is going to bounce just a touch at the open on Wednesday. That being said, even if we were to fall from here, I’m paying close attention to the $200 level. I think that’s an area that people will be watching very closely due to the fact that it has already shown itself to be important a couple of times.

To the upside, if we break above the $210 level, then it opens up the possibility of a move to the $230 level.

AMD Technical Analysis

AMD looks like it is going to recover pretty much right off the bat in premarket trading. And this is a good sign. It is a market that has been in an uptrend for quite some time.

We did have that weird wiggle on Wall Street yesterday, on Tuesday, that really shook a lot of hot money out of the market. We have filled the gap, and now it looks like we’re bouncing, which had formed from that session, so this makes a certain amount of sense. If that doesn’t hold, then the $490 level is an area I’d be looking to buy.

INTC Technical Analysis

The market for Intel looks like it’s going to be positive almost right off the bat here on Wednesday as well. Intel is one of the big winners this year, and now I think the $100 level is a major support level.

If we were to fall down to that area, you have the 50-day EMA holding the market up as well, but quite frankly, it doesn’t look very likely, at least in the short term. The question now really is going to be whether or not we can break above the $130 level. Breaking above the $130 level opens up the next leg higher.

If you’d like to know more about technical analysis and how traders use it, please visit our educational area.