NVDA, INTC and AMD Forecast – Tech Stocks Celebrate the Government Deal in the USA

NVDA Technical Analysis

Nvidia looks like the market is going to launch at the open on Monday, as risk appetite is definitely going through the roof. That being the case, it looks like the deal to reopen the U.S. government has boosted risk appetite. We’ll just have to see how this plays out. I suspect you probably have an overreaction early, a pullback, and then a continuation—not just in Nvidia, but in most risk-based stocks anyway. This is a market that’s been in an uptrend for quite some time, and I don’t think that has changed. We had a nice hammer on Friday, right at the 50-day EMA and an uptrend line, and we’re off to the races. So, I do think we go higher.

INTC Technical Analysis

Intel looks like it’s going to gap to the upside as well, although the move in Intel will probably be quite a bit more muted because it’s not Nvidia. And when you look at Intel from a longer-term standpoint, we are above the previous consolidation area, but we’ve had such a massive run over the last couple of months that you have to ask whether or not the momentum can stick with it. All things being equal, though, this is a market where short-term pullbacks should be buying opportunities.

AMD Technical Analysis

AMD looks like it’s going to gap higher as well. This is a stock that’s been extraordinarily bullish for a while, and I think that continues to be the case. So, with that, I look at this as a market that probably just continues to climb. It’s been rather impulsive this year—after all, we were at $77 and now find ourselves opening up right around $241 in just six months. Certainly not normal behavior, but it is what it is, and we have a lot of momentum to the upside. I don’t see how you could short this market, and pullbacks at this point in time do offer valuable opportunities.

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