NVDA Technical Analysis
Nvidia looks like it’s going to be slightly positive based on pre-market trading on Monday, but keep in mind that we’re still very much in a range. But it looks like the market has given up on the idea of sending Nvidia into the abyss, as the $170 level has offered significant support, and we find ourselves sitting right around the crucial 50-day EMA. All things being equal, this is a market that I think, given enough time, probably goes higher, perhaps reaching toward the $200 level, but it might be choppy, and we might get the occasional pullback between now and then.
INTC Technical Analysis
Intel looks like it’s going to be positive as well, as we are seeing the market trying to get back some of those losses from late last week, and given a little bit of help, I think we could reach towards the $44 level above, which had been a bit of a barrier. I like buying dips. I don’t have any interest in trying to get too cute here. I think $38.50 probably offers support.
AMD Technical Analysis
Advanced Micro Devices continues to go sideways overall, and I think we are trying to drift to the upside, but we’ll just have to wait and see how that plays out. Ultimately, this is a market that I given enough time, probably will try to go towards the $260 level, but keep an eye on $200 underneath because that will be a major floor in the market, or at least it should be. And if we give that up, then you might want to step back for a little bit.
For a look at all of today’s economic events, check out our economic calendar.
