NVDA, INTC and AMD Forecast – Chop Stocks Quiet in Premarket Trading

NVDA Technical Analysis

Nvidia looks as if it is going to open the session Tuesday just a touch lower than it closed on Monday, but quite frankly, I don’t know if I would read too much into this other than we are simply chopping back and forth and trying to digest some of the massive gains that we made last week. This is a market that if it does pull back, I anticipate that there will be plenty of buyers willing to get involved, as volume is pretty much normal, and it is worth noting that the 50-day EMA is getting ready to cross the 200-day EMA, forming the so-called Golden Cross.

INTC Technical Analysis

Intel is a market that is sitting right in the middle of its larger consolidation area. So, I think it’s basically at fair value at the moment. A pullback at this point in time should attract a certain amount of attention near the $18 level. And I do think that traders will be paying close attention to it. To the upside, we have the $26 level offering resistance. The fact that the market is like right in the middle means that it’s probably about as neutral as it can get right now.

AMD Technical Analysis

AMD looks like it’s doing very little in pre-market trading as we had just a few sessions ago tested the crucial 20 day EMA. A pullback at this point in time, more likely than not, will attract buyers because we did see a trend line breakout and a massive surge in volume over the last week or so. Because of this, I think AMD is probably in the process of trying to change its overall trend, but we’ll just have to see if you get a little bit of value before jumping in and buying.

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