Chip Stocks Surge as Buyer Interest Pushes Higher

The chip stocks of AMD, NVIDIA and Intel are seeing significant gains, pushing higher due to strong buyer interest. This has led to NVDA trading near $224.58 above its 50-day EMA at $216.82, with technical resistance around $230-$235.

NVIDIA's market remains tied to the AI trade, and traders seem willing to overlook high interest rates to capitalize on future opportunities. The $235 level is seen as a barrier, while the 50-day EMA sits just above the $215 mark.

Intel has rallied to $127.39 above key moving averages, with previous resistance levels at $133 and $140 in focus. Traders are looking at the $140 level as a major swing high and potential target for short-term pullbacks.