Today we are taking a look at Advanced Micro Devices(
AMD
)
We are gonna look both into what happened since the beginning of the calendar year but also what is going on in the last 2 months.
It is clear that since January we are in an uptrend channel having gained more than 85% and following the main trend of the stock market.Strong fundamentals and great earnings reports have helped the stock climb even higher.
Focusing on what has transpire in the last two months we observe that after an upward rally in the first 10 days of June we faced some resistance and falled back. Since reaching our bottom price and what is now our new support level,we had a steady increase over the past weeks leading us to price levels that our close to retesting our early June high.
I believe we will retest the previous high and have the same results we had the first time.
The reasoning behind my thought is that:1) Rsi is in overbought territory and close to the levels we had when the downtrend begin.2)Macd hasn't really supported our movement never showing bullish signal and being quite neutral.3) Volume is really low,which leads us to speculate that this upward movement is really weak.
So we have two pretty good options:A shorting opportunity when we reach the previous high(34$) with a target exit price between 30-32($), and a buy opportunity when we confirm the price reached its bottom and we have signals for a new steady upward movement (Will update on that when it’s time)
Generally i am bullish on
AMD
their fundamentals are strong, their new products are looking very strong performance-wise and pricing-wise when compared to their rivals.
Thank you for your time.
AMD
) We are gonna look both into what happened since the beginning of the calendar year but also what is going on in the last 2 months.
It is clear that since January we are in an uptrend channel having gained more than 85% and following the main trend of the stock market.Strong fundamentals and great earnings reports have helped the stock climb even higher.
Focusing on what has transpire in the last two months we observe that after an upward rally in the first 10 days of June we faced some resistance and falled back. Since reaching our bottom price and what is now our new support level,we had a steady increase over the past weeks leading us to price levels that our close to retesting our early June high.
I believe we will retest the previous high and have the same results we had the first time.
The reasoning behind my thought is that:1) Rsi is in overbought territory and close to the levels we had when the downtrend begin.2)Macd hasn't really supported our movement never showing bullish signal and being quite neutral.3) Volume is really low,which leads us to speculate that this upward movement is really weak.
So we have two pretty good options:A shorting opportunity when we reach the previous high(34$) with a target exit price between 30-32($), and a buy opportunity when we confirm the price reached its bottom and we have signals for a new steady upward movement (Will update on that when it’s time)
Generally i am bullish on
AMD
their fundamentals are strong, their new products are looking very strong performance-wise and pricing-wise when compared to their rivals. Thank you for your time.