NVDA Technical Analysis
Nvidia looks as if it is going to jump straight up in the air as it is likely to clear the 50-day EMA. A short-term pullback opens up the possibility of a buying opportunity as interest rates have plunged, opening up the possibility of buying companies like Nvidia. The 200-day EMA should now be your support.
INTC Technical Analysis
Intel is going to open at a fresh new high. Its partnership with SpaceX of course isn’t going to hurt, but quite frankly this is a market that’s been strong for a while and now as risk appetite returns it does make sense that it’s going to jump again. Again, chasing it right at the opening bell will probably not be the move, but buying short-term pullbacks could very well be exactly what you’re looking to do. Intel looks extraordinarily strong; I think it’s a flyer.
MU Technical Analysis
Micron is going to jump to the moon right away at the open, from what it looks like with the clearing of the 50-day EMA. This completes, for the most part, a turnaround of recent negativity, and it looks like it will go looking towards the highs near $470 given enough time.
I have no interest in shorting this market as long as interest rates in the 10-year yield stay below 4.3% and of course peace can be maintained in the Middle East. A huge sigh of relief will be seen across stock markets in the United States today and Micron won’t be any different, as it was previously a market darling, with it even showing strength before the announcement of the ceasefire.
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