NVDA Technical Analysis
Nvidia looks like it’s going to be somewhat flat at the open on Thursday as we continue to stare down the barrel of the $195 level. This is an area that I think will continue to be very difficult to overcome, but if and when we do, it opens up the possibility of a move to the $210 level.
In the meantime, short-term pullbacks should continue to offer value as we have a bullish market over the last year or so and don’t have an earnings call until the 25th of February.
INTC Technical Analysis
Intel looks like it is going to be a little bit negative but quite frankly we’ve had an explosive couple of weeks here. I think we are going to continue to see a lot of volatility. I would not read too much into everything that’s going on right now as it is a bit of a circus as far as headlines around the stock market are concerned.
I do think that Intel is a winner in the long term with the 50-day EMA at $41.58 offering a bit of support, followed by the $38.50 level. The $55 level above could be a target as it was a recent swing high.
AMD Technical Analysis
Advanced Micro Devices is a little bit positive in pre-market trading and I think we are going to have a go here at this double top near the $266.50 region. I think we can break above there eventually and once we do the measured move is to about $320. Obviously, I’m not calling for that next week, but I do think the overall attitude in AMD still remains very bullish so therefore I like the idea of buying dips.
