NVDA, INTC and AMD Forecast – Major Stocks Pop in the Premarket

NVDA Technical Analysis

The Nvidia market looks like it is ready to take off to the upside on Wednesday as we have seen a massive gap in pre-market trading. It’s worth noting that Trump had mentioned that he believes a deal with China is going to progress quite nicely. And that, of course, is the biggest problem Nvidia has because they have such a huge customer base in China. If there is some type of reconciliation between the Americans and the Chinese, then it opens up a huge market for Nvidia to send its chips into.

At this point in time, the $112 area is basically where we see the next major resistance barrier. So, we’ll see if we can get up there, but certainly it looks like Nvidia is going to stretch to the upside.

INTC Technical Analysis

Intel looks positive as well, as Intel has been bouncing from roughly $19 for the better part of nine months now. So, at this point in time, the continuation of consolidation is the story here. I do think you have a scenario where traders are going to be looking at trying to build some type of base here even further. And it is a rather neutral stock. I don’t know that the news changes things quite yet, but it does bring in more risk appetite if nothing else.

AMD Technical Analysis

AMD looks like it’s going to get a little bit of a pop in the early hours as well, but it is worth noting that AMD has been a laggard for months. And while this is a good sign, the question is whether or not anything has actually changed for advanced micro devices. I suspect the answer is probably no. And if that’s the case, this is one that although I think it gets a little bit of a short-term rally, I’d still be suspicious of at least until we clear the $100 level.

For a look at all of today’s economic events, check out our economic calendar.