INTC & NVDA Analysis and Outlook Video
This week we will be be looking at two of the big chip manufactures, INTC & NVDA, from a purely technical standpoint. At APA Zones we care about what price alone is telling us.
On Nvidia, NVDA, this week
NVDA Price has been in a step uptrend this week. Price has moved off the high of $168.50 and has given a nice little retest of new daily demand zone at 147 down to 142. Price bounced off that and is now climbing back into the highs. This week I believe will be a decision week as the bulls will have a real context on their hands as price attempts to retest the highs at $168.50. Will it fail or expand into new highs? I believe that’s it a little too soon to tell as I need to see price push more into the $165 price before I believe price has really tested the high yet.
On Intel, INTC, this week
INTC Price is tested the daily demand zone at $34.19 down to $32.42. This is really kind of the bottom of a big range that price as been in since last October. We see price at another decision point herefor INTC. Price has already bounce on the zone back in December. Therefore this zone has already done it’s job and price could move through it pretty easily, possibily even gap down through it.
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