NVDA, INTC and AMD Forecast – Chips Look Strong Overall

NVDA Technical Analysis

The market for Nvidia in pre-market trading looks bullish, and it’s likely that we will continue to see buyers trying to push this thing higher. Ultimately, I think this is a scenario where the $170 level continues to be support, but the 50-day EMA is causing a little bit of a headache. For what it’s worth, though, it does look like free market trading for Nvidia is still trying to push things to the upside. So, we’ll have to wait and see how that plays out. But right now, I think it’s more of a buy on the dip type of scenario that traders will be looking at as a value play in what should be a nice consolidation after a shot higher over the last several months.

INTC Technical Analysis

Intel is slightly negative in pre-market trading, but quite frankly, this is a market that’s gone parabolic after a massive amount of investment in Malaysian production, over $200 million stuns Wall Street and sends this market straight up in the air. Intel is breaking out, and it looks like it’s probably eventually going to try to get to the $47 level. But as things stand right now, this is a market that you’re probably looking at as little pullbacks as potential buying opportunities. There is still a bit of market memory left at the $38.50 level that could cause a little bit of support if we do drop that far.

AMD Technical Analysis

Advanced Micro Devices looks like it is trying to rally in pre-market trading as we continue to bounce from the crucial $200 level a couple of days ago. Ultimately, I think we will try to get back to the $260 level. We’ll just have to wait and see how this plays out, but right now, it certainly looks pretty healthy. Even if we were to fall, there is a massive amount of support down at the $172 level, right where the gap is from the 2nd of October, and of course, the 200-day EMA sits there as well. So, I think a certain number of people will be watching that. I am a buyer of dips. I do think this thing tries to get back to the highs before it’s all said and done.

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