INTC, NVDA and AMD Forecast – Chip Manufacturers Look to Bunce on Monday

INTC Technical Analysis

Intel looks as if it is trying to threaten a breakout above the crucial 200-day EMA, an indicator that a lot of people will be paying close attention to. If we can break above there cleanly, then Intel could make a run to the $28 level. Short-term pullbacks, we’ll see support near the 50-day EMA, but in the pre-market trading on Monday, it looks like we’re opening slightly higher, so we’re at least looking in the right direction.

NVDA Technical Analysis

Nvidia looks as if it’s going to open up a little bit higher in the early hours on Monday as well, as we have now formed a perfect V-shaped recovery. The question now is whether or not we can have enough momentum to continue going higher. Remember, the big conference is this week that Nvidia is holding, so it’ll be interesting to see if there’s anything that they say that gets traders excited, because sometimes that’s exactly all it takes. The market had recently plunged, but now it looks like it’s ready to turn things around.

AMD Technical Analysis

AMD looks as if it is trying to rally a bit from here. It’s quite a bit in premarket trading right about 2%. So, we’ll have to see if AMD can finally put an end to the nasty selling that we’ve seen, that’s been very consistent since the month of November. With that being said, I’d be cautious, but I do think we are at least in the process of trying to find that floor in AMD.

And it does make a certain amount of sense that the $100 level might be part of the reason after all. Traders like these large, round, psychologically significant figures, and they don’t get much bigger than $100.