NVDA, INTC and AMD Forecasts – Microchips Stay Neutral Despite Outside Pressures

NVDA Technical Analysis

NVIDIA looks like it’s going to be somewhat sideways as we are trading right around the 50-day EMA. The 50-day EMA is an indicator that a lot of people are watching very closely, and it is more or less a bit of a magnet for price.

If we do pull back from here, then it could open up the possibility of a revisit of the 200-day EMA, but I think a short-term pullback is more likely than not to end up getting bought into. All things being equal, this is a market that’s been sideways and I think we stay in this range. We’re basically in the middle of it, so it’s about as neutral as it gets.

INTC Technical Analysis

Intel looks as if it is trying to take off during this session and maybe that drags some of these other markets right along with it. The 50-day EMA has offered support at the end of the Thursday session and then goes into the Friday session.

Ultimately, this is a market that I think will be watching the $50 level above as a potential barrier. All things being equal, short-term dips continue to be bought into with the $43 level underneath being support.

AMD Technical Analysis

Advanced Micro Devices finds itself hanging around the 200-day EMA, and with that being the case, I think you’ve got a situation where the market is between the 200-day EMA and the 50-day EMA indicator, therefore being squeezed.

I think this remains somewhat neutral but given enough time I expect it to resolve to the upside, especially considering just how resilient most of the stock market has been as of late. So, with that, AMD could be a buying opportunity, but you’re going to have to be very patient.