NVDA, INTC and AMD Forecast – Microchips Look to Strengthen

NVDA Technical Analysis

Nvidia has the look of a market that’s ready to recover on Monday, as pre-market trading has been very positive, and now we continue to focus on the $170 level as significant support. The $190 level is a potential resistance barrier right along with $200. Nonetheless, this is a market that had a very strong year, and now it looks like we’re trying to consolidate. That makes sense as traders are simply collecting and consolidating their gains from the last several years. We are getting close to the end of the year, and a lot of stock traders will take those gains home before the calendar flips.

INTC Technical Analysis

Intel looks like it’s going to jump right off the bat during the trading session, as we continue to see a lot of volatility here as well. But the recent partnership with Apple and, of course, the overall momentum in general when it comes to technology stocks will continue to favor Intel’s rise. The 50-day EMA sits at the $36.91 level and is rising, which should offer a little bit of a floor in the market. If we were to break down from here, the $34 level is a pullback area that I think a lot of people will be looking at as a potential floor. Nonetheless, this is not a market I have any interest in shorting. It does look like it’s got some resiliency.

AMD Technical Analysis

Advanced Micro Devices is slightly positive in pre-market trading, but it’s a bit quieter than the other two stocks in this analysis. Nonetheless, we have a significant support level in the form of $200 sitting just below that. I think people will be watching, as one would expect. It’s a large, round, psychologically significant figure and an area that’s seen support previously. So, with all of that being said, I am bullish on this market. I just think that maybe what it’s really heading towards is going to be perhaps trying to find its next consolidation range.

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