NVDA, INTC and AMD Forecast – Microchip Stocks Look Positive in Premarket

NVDA Technical Analysis

Nvidia has the look of a market that is going to continue to go much higher as we are positive in pre-market trading and it looks like we’re going to attempt to get to the all-time high at $155. Short-term pullbacks, more likely than not, will continue to attract attention, especially near the $145 level, which we gapped over during the trading session on Tuesday. I don’t necessarily think it’s going to be the easiest thing for this market to break all-time highs, but it certainly looks like it’s going to at least make an attempt to add it in the next day or two.

INTC Technical Analysis

Intel is slightly, and I do mean very slightly positive in pre-market trading as we are hanging around the 200-day EMA. If we can clear the 200-day EMA, then Intel has the possibility of a move to the $26 level. If we can break above there, then we may go to fill the gap, which is all the way up at the $29 level. Short-term pullbacks, more likely than not, will be buying opportunities, with the 50-day EMA underneath offering support near the $21 level.

AMD Technical Analysis

AMD also looks as if it’s going to continue its impressive run higher based on pre-market trading. And it also looks as if it is going to try to target the $145 level. We are a little stretched, but the volume is picking up. That, of course, helps. AMD on a pullback probably find support near the $130 level, and then again, at the 200 day EMA closer to the $120 region. All things being equal, this is a market that I think remains positive. We recently had a major breakout from a trend line and have just launched since then.

For a look at all of today’s economic events, check out our economic calendar.