NVDA, INTC and AMD Forecasts – Chips Look to Drop on Thursday

NVDA Technical Analysis

Nvidia looks like it’s going to drop pretty significantly and back below the 200-day EMA at the open, as the Donald Trump speech overnight had everybody panicking. This really has nothing to do with Nvidia, other than it is a huge risk-off type of market right now, and that will continue to be a major problem sometimes for high-flying technology and little pockets of major capital expenditure type companies, such as Nvidia.

That being said, it’s probably a wait and see situation. Keep in mind, Friday is Good Friday in the United States, so it will probably just bounce around the bottom of the range at the moment.

INTC Technical Analysis

Intel looks like it’s going to have a rough day. I’m watching the $43 level as well as the 50-day EMA at $44.77, or some type of opportunity to buy the dip. But we’ll just have to wait and see how this plays out because quite frankly this is a market that I think will continue to be very noisy, not because of Intel, although Intel has its own issues as far as spending is concerned, just the fact that everybody is freaking out on an almost daily basis it’s difficult for some of these high-flying tech companies to really get a foothold.

AMD Technical Analysis

Advanced Micro Devices looks very much like a market that will open down, but it is in the middle of a massive consolidation area with the 200-day EMA sitting just underneath the $195 level. I think this one might be the most stable of the 3 stocks that I’m reviewing in this video. That doesn’t necessarily mean that you jump out and buy it, it just means that it probably has a better chance of bouncing quicker than the others. The $220 level continues to be a major ceiling.

If you’d like to know more about technical analysis and how traders use it, please visit our educational area.