NVDA, INTC and AMD Forecast – Microchips Looking to After Market Earnings

NVDA Technical Analysis

Nvidia is positive in pre-market trading on Wednesday as Nvidia will definitely be the center of the universe for Wall Street. After the bell on Wednesday, we do get the earnings call coming out of Nvidia, and that will have a major knock-on effect for multiple other stocks as well as indices. As to stand right now, it looks like Nvidia is likely to try to recover because we have sold off pretty viciously over the last couple of weeks. If Nvidia can knock it out of the park, that will get people excited, but if it is rather poor, we could see Nvidia drop down to the $170 level. The biggest question right now is about the AI bubble, and of course, Nvidia is right in the middle of it. Expect a lot of volatility after hours.

INTC Technical Analysis

Intel looks like it is trying to find a little bit of a bottom. It’s slightly positive in pre-market trading, really nothing to write home about, but we have dropped pretty significantly from the highs, and now we find ourselves right around the 50-day EMA. The 50-day EMA, of course, is an indicator that a lot of people would be paying attention to, and even though they are two different businesses, if Nvidia does really well with its earnings call, it’s possible to drag Intel right along with it.

AMD Technical Analysis

AMD looks like it’s going to open slightly positively during the trading session here on Wednesday as well. And it does look like the 50-day EMA is trying to do everything it can to offer a little bit of support in a market that has been bullish for a while. With that being said, I think you’ve got a situation where the market will eventually try to break towards the $260 level. But if we do in fact break down below the 50 day EMA, then we may go looking to the 200 day EMA underneath, which of course is a large round, psychologically significant figure in an area that has probably a lot of interest by options traders, as well as being the top of the major gap going back to the 6th of October.

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