NVDA, AMD and INTC Forecast – Chips All Look Strong Premarket

NVDA Technical Analysis

Nvidia kicked off the trading week jumping in pre-market trading and it looks like we’ll probably open up about another $5 higher than we closed on Friday, which in and of itself was a very strong session. When I look across the board, it looks very risky on Monday as traders come back to work from the holidays, and I think it’s probably only a matter of time before we break out to a fresh new high.

Short-term pullbacks will almost certainly attract quite a bit of attention in Nvidia, which as you know, is one of Wall Street’s darlings playing the AI game. So, I think this is when you look for an opportunity on dips to get involved. Otherwise, we may just blow through the ceiling here and continue going higher. It definitely looks very bullish.

AMD Technical Analysis

AMD looks strong in the early hours, although the longer term chart, not nearly as strong as Nvidia, as Nvidia has become the leader, but it is worth noting that we are bouncing from right around the $120 level, which is an area that I think ultimately has been pretty significant support and resistance a couple of times in the past. So, I think a little bit of a snapback bounce is due here. Keep in mind that earnings come out on the 4th of February. So, we have a couple of weeks leading into that. We’ll have to wait and see how that comes out. But it certainly looks like we’re good for a bounce here.

INTC Technical Analysis

Intel, which has been a real laggard for what seems like a lifetime here, is up a little bit in pre-market trading. And it’ll be interesting to see if it can continue to go higher. This is a company that’s been in a lot of trouble for a while. So, some change in leadership might help, but we’ll have to pay close attention to the earnings call on the 23rd of January and what their outlook is. It’ll be interesting to see how that plays out.

Intel has really dropped the ball when it comes to the AI race. We do have a bit of a double or possibly even triple bottom near the $18.75 level, so that helps. But I think out of the three companies in this video, Intel is by far the least of the three as far as any type of returns are going to be.