NVDA, AMD and INTC Forecasts – US Chips Look to Rally on Monday

NVDA Technical Analysis

Nvidia looks like it’s going to jump right away at the open here on Monday, which is not a huge surprise considering how many people trade this stock. You should also keep in mind, though, that there has been some breakthrough in the sense that Nvidia is now looking to partner with Samsung to help build its foundry, and of course, has struck some deals in South Korea for AI centers as well.

Ultimately, I think what you’ve got here is a little bit of value buying based on that vicious Friday session, which just whacked all semiconductors. It really had nothing to do with Nvidia, specifically it was an entire industry-wide wipeout with chips on Friday and now we have a situation where the $200 level was close enough that I think people thought it was time to start buying the dip.

AMD Technical Analysis

AMD looks very much the same, it is in the process of signing a lot of deals as well, and it looks like it’s going to open, taking out about half the losses from Friday, so on short-term dips, this is probably one you buy on a bounce.

AMD has been a big winner for some time now I don’t see that changing anytime soon I do believe we will reach the recent highs near the $540 level probably within a handful of days. I have no interest in shorting this market anytime soon, it is far too well supported.

INTC Technical Analysis

Intel looks like it’s going to bounce, which also makes sense, as it tested the crucial $100 level on Friday. Looks like it’s ready to bounce, probably going to open up about $3 higher, so that’s a nice little pop.

It did drop 11.28% on Friday, a little bit of a gain here makes a certain amount of sense. I do think eventually we go looking towards the $125 level again, it may take some time to get there. Obviously, there are a lot of jittery traders out there. If we were to break down from here, look at the 50-day EMA as a potential support level.

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