NVDA, INTC and AMD Forecast – US Tech Stocks Ready to Move

NVDA Technical Analysis

Nvidia looks like it’s going to rally based on pre-market trading as we are racing towards the $180 level again and potentially looking at another attempt to get to the $184 level, an area that has been major resistance previously. With that being said, I think this is a market that is just simply trying to work off some of the excess froth from the big move higher that we had seen since April. The 50 day EMA is at the $172.50 level and rising. And I think that it offers you a little bit of a short term floor in the market.

INTC Technical Analysis

Intel is likely to pull back based on pre-market trading, which does make sense. After all, it’s basically jumped about 50 % over the course of a couple of trading sessions based on the United States coming into the market and getting 10 % of the company. But now we have talks with Apple about investing in Intel. So obviously, very bullish news indeed. I do think we need to see a bit of a pullback before we start putting money into it though. Meaning, this would be chasing a massive gain at this point, which is a great way to find yourself stuck in a position for months while you’re waiting to get back to break even.

AMD Technical Analysis

AMD looks like it’s going to rise slightly in pre-market trading as well. And at this point in time, we need to pay close attention to the $165 range because if we can clear that, then I think AMD will continue the overall uptrend. I have no interest in shorting this market. I think we’ve got a situation where the $150 level is offering a bit of a hard floor at the moment. And with that being the case, I would not be surprised at all to see this market go looking to the $180 level before it’s all said and done. I think it’s going to be a bit noisy. I think it’s going to be a bit choppy. But all things being equal, this is a market that I do think there are plenty of buyers willing to get involved.

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