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Short

AMD consolidating ahead of possible decline

NASDAQ:AMD   ADVANCED MICRO DEVICES INC
I am pretty bearish on AMD             . The company has been making a consistent loss quarter after quarter. $197m loss from $180m the previous quarter. AMD             continues to struggle in the face of stiff competition in the computing sector. Apple             and Microsoft             are all moving into hardware and with the preference being Intel             , tough days ahead.

Technically a break of consolidation to the downside is more likely, the absence of big volume at this stage only suggests the real buyers have not showed up yet. I won't be surprised to see this share trade under $1.

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