NVDA, AVGO and INTC Forecast – Chop Stocks Looking for the Next Move

NVDA Technical Analysis

Nvidia is relatively flat in pre-market trading as we get the next earnings call next Wednesday, so it does make a certain amount of sense that we are just killing time here. The market had shot straight up in the air for a while, and now it has to digest all of those gains.

Short-term pullbacks, I suspect, will probably have a certain amount of support, but again, with that earnings call coming on Wednesday of next week, it’s really hard to get overly bullish or bearish until we get that out of the way.

AVGO Technical Analysis

Broadcom looks like it’s going to open slightly lower, but just lower. And at this point in time, I think the market is going to continue to see a lot of sideways action as the 50 day EMA underneath offers plenty of support, all things being equal.

The market is likely to rally a bit and perhaps threaten the $250 level before it’s all said and done, which has served as a major ceiling. Keep in mind Broadcom has its earnings call on March 6th. So, we have a little bit more time over here for that event and will likely continue to see more of a buy on the dip attitude.

INTC Technical Analysis

Intel is going to open up higher. And it is worth noting that there’s been some pretty good news out of Intel as of late. And it is at an extremely low level. So, one would have to assume that sooner or later, we get value hunting. And that’s exactly what’s happened here recently. It is up in an explosive move over the last couple of weeks. But we have cleared the 200-day EMA. And it looks like we could very well continue to see Intel go even higher.