AMD Vs. Nvidia: Does One Of These Stocks Look More Bullish Than The Other?

Advanced Micro Devices Inc. (AMD) and NVIDIA Corp. (NVDA) are two microchip stocks trading higher Wednesday as the market for chipmakers is moving up with these two stocks at the helm.

Both stocks are trading in technical patterns, but which one looks more bullish than the other?

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AMD was up 1.37% at $103.23 and NVIDIA was up 3.07% at $218.99 at last check Wednesday afternoon.

AMD Daily Chart Analysis

• AMD was able to break out of an ascending triangle pattern and looked like it was able to bounce off old resistance, now holding it as a support level.
• Resistance was found near the $100 level before the price broke above, this level then went on to hold as support and may continue to. The higher low trendline is another place the stock could find support near.
• The stock trades above both the 50-day moving average (green) and the 200-day moving average (blue), indicating the stock is seeing a period of bullish sentiment.

(Click on image to enlarge)

NVIDIA Daily Chart Analysis

• NVIDIA is in a very similar situation as AMD, recently broke above an ascending triangle and tested the old resistance as a support level.
• The $210 level is where NVIDIA found resistance in the pattern, then broke above and was able to hold the level as support. The higher low trendline may also be a place of support.
• The stock trades above both the 50-day moving average (green) and the 200-day moving average (blue), indicating sentiment in the stock is looking bullish.

(Click on image to enlarge)

Which Stock Looks More Bullish?

As both stocks are in the same sector and trading in the same pattern, it is difficult to tell which stock is looking more bullish.

While both stocks look bullish, NVIDIA could be considered more bullish because it is further above its moving averages than AMD, and also has a slightly higher RSI, coming in at 51 compared to an RSI of 45 for AMD. This shows NVIDIA is seeing slightly more buying pressure than selling pressure compared to AMD, which is seeing slightly more selling pressure.