NVDA Technical Analysis
The Nvidia market has shown itself to be rather soft here in pre-market trading as we continue to see a lot of noisy behavior overall. With that being the case, I think you have to understand that we are in an environment where traders are going to continue to look to the upside, but this pullback might be necessary in order to get a little bit of value, if you will. That value, I think, continues to be something that people will be looking for. So, I buy the dip, and I aim for higher moves. I don’t see any reason to short Nvidia.
INTC Technical Analysis
Intel is a little bit different in the sense that yes, we’ve seen a shot higher, but the reality is that the market still needs to see some type of catalyst to get people buying this. We’re in a consolidation range in this market, the $18 level on the bottom and $30 on the top, maybe even $27. We are hanging around the 200 day EMA. So that is worth paying attention to. And with that being the case, I think dips are accumulation opportunities, but whether or not we are going to really take off to the upside, we need some type of external factor.
AMD Technical Analysis
AMD looks like it’s going to be a little bit soft as well, but ultimately, this is a market that I think continues to see a lot of noise. I think it probably will see a little bit of a buy on the dip opportunity present itself, especially if we get all the way down to the 200 day EMA near the $122 level. I don’t know that we will follow that path lower, but I do think that dips will continue to be something that a lot of people are looking to get involved in, as the market has so clearly broken to the upside.
But we have gotten a little overextended at this point. So, I think it makes a certain amount of sense that maybe we take a little bit of a breather, should provide opportunity.
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