aroup250
Long

AMD future direction - Analysis

NASDAQ:AMD   Advanced Micro Devices Inc
The first reason I believe we WILL see AMD rise in price in the near future can first be rationalized by looking at my 20,50, and 200 day EMA's. As we can see, this is a prime position in terms of the stock gaining momentum as I believe the 20 day EMA will cross upwards on the 50 day EMA - when this happens expect a price increase easily to above the level of the current 200 day EMA (around $55 is target). Furthermore, I believe the momentum needed for the 20 day to cross the 50 is imminent as using the Stochastic RSI we see it gearing up for another push upwards with further support. You can see exactly what I am talking about by focusing on the rectangles on my chart!

Comments

Looking forward to the results after the Bank of America conference today
+1 Reply
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