AMD - UPDATE - NEXT TARGET $57.75

0. Notes to follow;

Comment:

1. AMD currently consolidating below the $55 level;

2. Test of $52.50 area, very quickly in the 5:00am EST hours this morning;

3. Quick bounce back and test of the $55 level again.

4. Accumulation and Distribution back to $54.50 / $54.35 / $54.25 and $54.11 range;

5. Should break out over $55, and run to $57.75 or so on the next flag, based on the $2 height from the bull flag;

6. Stock may blast past the $58 region, and make a run to the $60.

7. We expect a major pullback and consolidation from high $57.75 to $60.50 range, then protracted $52.50 to $55 range consolidation.

8. Looking to buy in any pullback, below $54, in the $50 to $53.75 range.

- drchelsea

Comment:

9. We are also looking for the stock in the the $57.50 to $65 area, running into April 28 (EST) earnings.

0. We will be once again looking to sell calls, and maybe add a few puts for a collar, depending on how lofty we are going into earnings.

Comment:

1. It appears that 10 minutes after I posted this, AMD stock is up $.50c. to $55.05.

NVDA Earnings is the catalyst. They of course knocked the cover off the ball.

4:30PM
Nvidia higher by 6% after reporting Q4 earnings, giving Q1 guidance

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NEWS

AMD price target raised to $66 from $63 at RBC Capital RBC Capital analyst Mitch Steves raised his price target on AMD (AMD) to a Street-high $66 with an Outperform rating following the better than expected results from Nvidia (NVDA), which suggest that the overall gaming and data center market is healthy. The analyst is positive on the investments made by AMD that should "pay off over the next 12 months and beyond."

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UPDATE

JUST BROKE OUT OF TOP OF CHANNEL AT $56.75, NEXT STOP, $57.75!

Trade active:

We have major resistance at $56.75. May take some consolidation to break on through. Let's see...

Trade active:

$57.75

ANY QUESTIONS?

- THE AMD WHISPERER