TradingShot

AMD a great stock to have in your portfolio to the end of year

Long
BATS:AMD   Advanced Micro Devices Inc
Last time we looked at the Advanced Micro Devices (AMD), we made a short-term call (June 20, see chart below) at the bottom of the Bull Flag, with the price responding flawlessly, and is currently on its way for a Higher High on our $190.0 Target:


Before that, it was on May 15 (see chart below) where we called for a buy exactly at the bottom of the cyclical correction/ Bearish Leg of the 2-year Channel Up:


Just a quick reminder, it was back in March when we waved the strongest 1W sell signal on AMD and it surgically delivered (chart below):


In any event, back to today, the price has just broken above the 1D MA100 (green trend-line) and established the last two trading sessions there. With the 1D RSI approaching the 70.00 overboughr barrier, we are on the exact same level that AMD was during both previous Bullish Legs (circle).

This suggests that we are only at the very start of the new Bullish Leg and based on the Sine Waves, it should start peaking end of December - start of January 2025. We are moving our long-term Target higher to $320.00.

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As you see, we couldn't have gotten a more efficient long-term buy entry than that and the stock has basically confirmed the start of the new uptrend/ Bullish Leg

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