NVDA, INTC and AMD Forecast – Chip Stocks in America Look Soft Early

Nvidia Technical Analysis

NVIDIA looks like it’s going to have a pretty rough start on Tuesday, but really, this has nothing to do with NVIDIA and everything to do with Greenland. Which, of course, when you think about Nvidia, you think about Greenland? Geopolitics are causing traders around the world to panic in a fit of drama. But at the end of the day, Nvidia will still be the leader in the AI race and many of the other applications that it has been used for some time now.

The 200-day EMA has now found its way towards the $170 level, which is the bottom of the overall consolidation range. The $195 level above offers a bit of a ceiling, but I think it might be a minute before we get there. I do believe this presents a buy-on-the-dip opportunity once you see the bounce. Just be patient enough; it should show itself.

Intel Technical Analysis

Intel looks like it’s going to be basically flat at the open from the close on Friday, which is interesting. It is holding up better. It is much more bullish than Nvidia, so maybe that’s part of it as well. But nonetheless, this is a market that I think will offer a buy-on-the-dip opportunity given enough time as well.

The 50-day EMA sits just below the $40 level, so that could be an interesting area if we do get there, that is.

Advanced Micro Devices Technical Analysis

Advanced Micro Devices looks like it’s going to be a little soft at the open as well. But again, this is going to end up being a buying opportunity before it’s all said and done. The $200 level continues to be a massive floor.

We also have the 50-day EMA sitting right around the $216 level, offering support between here and there. So again, if we do drop and get a bounce, I think that might be an interesting play here in Advanced Micro Devices as well. Regardless, I believe it still remains bullish, and I have no interest in shorting it.

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