IF the world is not falling apart, AND stock markets are recovering, then AMD looks good here.
9 EMA crossing above 50 MA
50 MA curling upwards
Price perched right on 9 EMA, 50MA, and 200MA, offering a variety of support and stop levels (200ma not shown)
Small bull flag with shrinking volume
Look at what happened when the 9ema crossed over the 50ma last time, in May 2018.
Short term risk is that SPY/QQQ are short term overbought.
On a fundamental basis, did you know they are already showcasing 7nm technology? HOLY SHIT, they beat Intel and Nvidia to it. If the other companies do not catch up fast they will lose a lot of market share.
I will be trying to accumulate AMD here. I may also sell $15-$18 strike puts with hope of being assigned.
Notice that the October and December lows for AMD are at the same price level. The same cannot be said for the SPY or QQQ, which made much lower lows in December.
Coincidentally, this is also true for foreign stocks (EEM) and china (FXI). I think this is a significant divergence and could point to severe dollar weakness / foreign out-performance.
9 EMA crossing above 50 MA
50 MA curling upwards
Price perched right on 9 EMA, 50MA, and 200MA, offering a variety of support and stop levels (200ma not shown)
Small bull flag with shrinking volume
Look at what happened when the 9ema crossed over the 50ma last time, in May 2018.
Short term risk is that SPY/QQQ are short term overbought.
On a fundamental basis, did you know they are already showcasing 7nm technology? HOLY SHIT, they beat Intel and Nvidia to it. If the other companies do not catch up fast they will lose a lot of market share.
I will be trying to accumulate AMD here. I may also sell $15-$18 strike puts with hope of being assigned.
Notice that the October and December lows for AMD are at the same price level. The same cannot be said for the SPY or QQQ, which made much lower lows in December.
Coincidentally, this is also true for foreign stocks (EEM) and china (FXI). I think this is a significant divergence and could point to severe dollar weakness / foreign out-performance.