Stock Analysis: Advanced Micro Devices (AMD) – October 30Technical Analysis and Price Targets
Following AMD’s Q3 2024 earnings release on October 29, the stock is still positioned within a symmetrical triangle, signaling a potential breakout. The updated earnings data, along with key technical indicators, provide a refined outlook on AMD’s likely price movement.
Bullish Scenario: A breakout above $170 could push the stock toward two main targets:
Target 1: Around $186, aligning with previous resistance, would likely confirm buyer strength and signal renewed upward momentum.
Target 2: Around $225.50, which would represent a multi-year high, indicating strong investor confidence in AMD’s growth potential within the AI and data center markets.
Bearish Scenario: If AMD fails to hold support at $140, a breakdown could target lower levels:
Target 1: Around $128.66, representing an initial support level that may signal sustained selling pressure.
Target 2: Around $93.62, which would suggest a significant downtrend if broader tech market sentiment or sector-specific risks intensify.
Key Technical Indicators
Moving Averages: AMD’s 50-day moving average crossing above the 200-day average, forming a “golden cross,” suggests a potential bullish trend. Confirmation, however, is needed through a breakout above resistance.
RSI: The Relative Strength Index is at 43, suggesting neutral-to-slightly oversold conditions. This leaves room for a potential bullish move if positive sentiment gains traction.
ADX: With an ADX of 17, the current trend lacks strong direction. A rising ADX following a breakout would confirm the strength of the next move.
Q3 2024 Earnings Summary
-AMD’s Q3 earnings exceeded Wall Street estimates, with revenue reaching $6.82 billion compared to the expected $6.71 billion
SHACKNEWS
-The revenue increase was largely driven by the data center segment, which recorded $3.5 billion in sales—a year-over-year growth of 122%
MARKETBEAT
-This performance highlights AMD’s successful expansion in high-growth areas, particularly with its EPYC server processors and products geared toward AI applications.
Despite the strong earnings, AMD’s stock reaction was mixed. The stock rose by $6.33 during regular trading hours on October 29 but fell by over $10 in after-hours trading. This cautious response likely reflects broader market concerns, including rising interest rates, economic uncertainty, and geopolitical factors such as U.S.-China trade tensions that may impact supply chains and production costs for semiconductor companies
Sector and Economic Context
AMD’s data center success comes amid a semiconductor industry facing complex conditions. Demand for AI and high-performance computing continues to drive growth opportunities. However, recent U.S. restrictions on chip exports to China and efforts to relocate manufacturing to the U.S. add layers of uncertainty. While reshoring may benefit companies like AMD in the long term, it could also lead to near-term logistical challenges and added costs.
Macro factors, including high interest rates and potential economic slowdowns, also pose risks to tech stocks. Growth stocks like AMD are often more sensitive to rate hikes, as higher borrowing costs reduce the appeal of future earnings.
Investment Strategy
For Bullish Traders: If AMD breaks above $170 with high volume, it could signal a buying opportunity, targeting $186 and potentially $225.50. Given the company’s recent performance in AI and data centers, such a move would reflect confidence in its strategic direction and growth potential.
For Bearish Traders: A breakdown below $140 could indicate a bearish setup, targeting $128.66 initially, with a possible extension to $93.62 if selling pressure intensifies. This approach may be favorable for traders looking to capitalize on downside risks associated with economic uncertainty and sector-specific challenges.
Long-Term Investors: Those with a long-term perspective may see AMD’s current price consolidation as an opportunity to accumulate shares at a reasonable price, especially given its strong positioning in AI and data center markets. A cautious, dollar-cost averaging approach could mitigate short-term volatility while taking advantage of AMD’s growth potential in the semiconductor industry.
Conclusion
AMD’s Q3 2024 earnings highlight the company’s strength in high-demand sectors, yet the stock’s mixed response indicates investor caution. The anticipated breakout from the current triangle pattern will be crucial in setting the next trend. As AMD navigates a rapidly evolving industry landscape, investors should stay vigilant for both technical signals and broader economic developments to inform their strategies.
Technicalindicators
Gold soared amid U.S. election instability and geopolitical riskSpot gold prices surpassed $2,770 on Wednesday as market participants sought safety ahead of significant data releases and the upcoming U.S. elections. The precious metal gained momentum before Wall Street opened, accelerating after the release of U.S. data.
The Conference Board's consumer confidence index rose to 108.7 in October, up from 99.2 in September. The present situation index increased to 138.0, while the expectations index surged to 89.1, well above the 80 threshold that typically signals an impending recession.
Personal opinion:
XAU/USD has pulled back slightly from a new high but is still holding most of its gains for the day, trading around $2,766. The technical indicators on the daily chart still suggest that a further bullish trend could continue, indicating the possibility of another price increase in the near future.
Pay attention to the price range:
Buy Zone: 2746 - 2744
SL: 2739
Buy Zone: 2760 - 2758
SL: 2753
Sell Zone: 2794 - 2796
SL: 2801
Gold prices slipped slightly this week amid strong USD demand.Gold prices (XAU/USD) faced pressure on Friday, erasing some of the previous gains due to USD buying amid a weaker dollar and expectations of less aggressive easing from the Fed. Positive sentiment in the stock market also reduced demand for gold.
However, political uncertainty in the U.S. ahead of the November 5 presidential election, ongoing geopolitical risks in the Middle East, and falling Treasury yields continued to support gold prices, leading to caution about whether XAU/USD has peaked.
Personal opinion:
The 2,640-2,645 range is becoming a strong barrier. If the price breaks above this level, the head and shoulders pattern will be invalidated, allowing gold to challenge the historical high around 2,658-2,659 that it reached earlier this week. If it continues to rise, XAU/USD could reach 2,770, which corresponds to the resistance level of the nearly four-month upward trend, before targeting the round number of 2,800.
Attention to price range:
Buy Zone: 2719 - 2717
SL: 2712
Sell Zone: 2748 - 2750
SL: 2755
Sell Zone: 2758 - 2760
SL: 2765
Gold needs to hit $2,740 to keep rising.Gold prices continued to rise in the Asian trading session on Friday, marking the second consecutive day of consolidation. Although it reached a record high of $2,759 on Wednesday, prices remained confined within a familiar range since the beginning of the week.
The fluctuations in gold prices are influenced by expectations that the Federal Reserve may adopt a less aggressive easing policy, along with uncertainties surrounding the presidential election and geopolitical tensions in the Middle East. Additionally, earnings reports from U.S. companies play a crucial role in shaping risk sentiment, which in turn affects the value of the U.S. dollar (USD) and gold prices.
Personal opinion:
To maintain a sustainable upward trend, surpassing the resistance level of $2,740 is really important. If successful, this will open up opportunities for gold buyers to continue targeting the psychological barrier of $2,750. If they can break through this level, the next goal will be the record high of $2,759. This indicates that the market is showing positive signs and could continue to grow, offering hope to investors.
Pay attention to the price range:
Buy Zone: 2704 - 2702
SL: 2697
Buy Zone: 2713 - 2711
SL: 2706
Sell Zone: 2740 - 2742
SL: 2747
Gold prices edged up as U.S. yields fell and the dollar weakenedThe slight decline of the USD and U.S. Treasury yields may reflect stable market sentiment in Asia following a technology sell-off on Wall Street. U.S. stock futures rebounded as risk was re-established, thanks to strong earnings reports from Tesla Inc.
Tesla reported adjusted earnings of 72 cents per share for the quarter, surpassing analysts' average estimates and ending a streak of four consecutive quarters of missed expectations. The company noted that the Cybertruck, delivered for the first time late last year, has started to turn a profit.
Personal opinion:
The price of gold is currently facing strong resistance at $2,723. This is the 23.6% Fibonacci retracement level from the recent record price increase, where the price rose from $2,604 on October 10 to an all-time high of $2,759. If it breaks above this level, buyers may find it easier to surpass the psychological barrier of $2,750. The next target will be the record high of $2,759.
Pay attention to the price range:
Buy Zone: 2712 - 2710
SL: 2705
Sell Zone: 2759 - 2761
SL: 2766
Sell Scalp: 2736 - 2738
SL: 2743
Gold stays high despite rising U.S. yields and a stronger dollarGold prices (XAU/USD) reached a new record high on Wednesday, surpassing $2,750 in the European trading session. Risk-averse sentiment and the threat of escalating tensions in the Middle East have driven capital into the precious metal. Political instability in the U.S. and accommodative monetary policy have also supported gold prices.
Despite the U.S. dollar rising to its highest level since early August, bullish sentiment remains strong. Expectations that the Federal Reserve will cut interest rates less and concerns about spending deficits following the presidential election have pushed U.S. Treasury yields to a three-month high, which could hinder further growth in XAU/USD amid light overbought conditions.
Personal opinion:
XAU/USD has faced resistance near the $2,750 level, followed by the $2,767 area, which is the upper boundary of a two-week upward channel. If this barrier is cleared, it’s likely that the price of gold will continue to grow. If that happens, we could see gold reaching the $2,800 mark.
Pay attention to the price range:
Buy Zone: 2738 - 2736
SL: 2731
Buy Scalp: 2749 - 2747
SL: 2742
Sell Zone: 2767 - 2769
SL: 2774
Gold is rising back to $2,741 early Tuesday.The greenback has retreated from its highest level in nearly three months in Asian trading on Tuesday, as U.S. Treasury yields reinforced the previous price increase. The dollar's pause and rising yields have provided buyers with an opportunity after Monday's sharp drop from record highs.
A moderate risk tone and uncertainty ahead of the U.S. presidential election have revived demand for gold as a safe haven. However, it's unclear whether gold prices will sustain their upward momentum and reach new record levels, especially as Chinese stocks show signs of recovery.
Expectations for a less aggressive stance from the Fed may also limit the upward trend of this precious metal.
Personal opinion:
Gold prices are currently attempting to test the record high of $2,741. In this context, buyers are actively pushing back, trying to regain control of the market. The competition between buyers and sellers is intense, creating a lively atmosphere in gold trading.
Pay attention to the price range:
Buy Zone: 2705 - 2703
SL: 2698
Buy Zone: 2716 - 2714
SL: 2709
Sell Zone: 2740 - 2742
SL: 2747
Sell Zone: 2750 - 2752
SL: 2757
Gold seems to be preparing for a correction from its record highThe US dollar (USD) maintains an adjustment regime, reflecting a decline in US Treasury yields. Chinese stocks have rebounded after the People's Bank of China (PBOC) lowered the one-year loan prime rate (LPR) from 3.35% to 3.10%.
Although the market's initial reaction was not strong, there are still expectations for further stimulus measures from China. This optimism, combined with ongoing tensions between Israel and Iran, has supported gold prices.
Personal opinion:
The US dollar's adjustment regime reflects economic volatility. The PBOC's interest rate cut aims to boost China's growth, but the market's weak reaction shows caution due to geopolitical tensions, like those between Israel and Iran. This situation compels investors to tread carefully, especially with gold prices supported by these uncertainties.
Pay attention to the price range:
Buy Zone: 2704 - 2702
SL: 2697
Buy Scalp: 2719 - 2717
SL: 2712
Sell Zone: 2748 - 2750
SL: 2755
$TXN Texas Instruments Weakness????? Target 193.12TXN has lost last week’s lows and made a new monthly low on increased volume. If possible TXN looks to be getting ready to retest the 193.12 area which is the 150 day demand zone where the stock should bounce. I am bearish if we lose yesterday’s lows of 198.11 with 193.12 as a target. Capturing a downward move of 4.99
The price of gold has reached an all-time high.Gold prices (XAU/USD) rose for the fourth straight day, surpassing $2,712 and reaching a new record high in Asian trading on Friday. Key factors include anticipated interest rate cuts from major central banks, tensions in the Middle East, and U.S. election uncertainties.
Positive U.S. economic data on Thursday reinforced expectations for modest Fed rate cuts, boosting the dollar to its highest level since early August. Despite this, bullish sentiment around gold remains strong as prices trend upward this week.
Personal opinion:
The recent rise in gold prices is driven by geopolitical tensions and anticipated interest rate cuts, making it attractive for investors seeking a safe haven. It’s interesting to see how external events strongly influence the market. Gold seems well-positioned to continue attracting interest.
Pay attention to the price range:
Buy zone: 2690 - 2688
SL: 2683
Buy Scalp: 2702 - 2700
SL: 2695
Sell Zone: 2722 - 2724
SL: 2729
Gold is at a record high, and a rising USD may limit growth.Gold prices (XAU/USD) rose for the third consecutive day on Thursday, marking the sixth positive day in the last seven, as it tested an all-time high in Asian trading. Anticipated rate cuts from major central banks and geopolitical risks from the Middle East are driving interest in gold.
Meanwhile, expectations of modest Fed rate cuts next year have kept the US dollar (USD) near its highest level since early August, limiting new bullish bets on gold. Traders are now focused on US macro data for momentum in the North American session.
Personal opinion:
Currently, there are positive signs that could push gold prices up to $2,700. If there are more buying transactions, this will create new momentum for optimistic traders, helping to extend the upward trend for several months. This outlook is further reinforced by the fact that daily chart fluctuations remain in the positive zone and are still far from being overbought.
Pay attention to the price range:
Buy zone: 2650 - 2652
SL: 2645
Buy zone: 2664 - 2666
SL: 2659
Sell zone: 2684 - 2686
SL: 2691
SELL ZONE: 2700
Gold reached a three-week high, capped by a rising dollar.Gold prices (XAU/USD) rose for the second consecutive day on Wednesday, reaching a three-week high around $2,677-$2,678 due to a downturn in the stock market and geopolitical risks. The flight to safety led to a decline in U.S. Treasury yields, supporting gold.
However, expectations of less aggressive easing from the Federal Reserve and a strengthening U.S. Dollar may limit gold's upward momentum in the near term.
Personal opinion:
Any further price increases are likely to encounter resistance near the $2.685-$2.686 range or the all-time high reached in September. Following that is the round number of $2.700; a decisive breakout above this level would set the stage for a multi-month uptrend amid positive fluctuations on the daily chart.
Pay attention to the price range:
Buy Zone: 2647 - 2645
SL: 2640
Buy Zone: 2660 - 2658
SL: 2653
Sell Zone: 2683 - 2685
SL: 2690
HSI significant pull back! FX:HKG33
Look at 1H chart movement together with the MACD & KDJ indicator, the histogram for MACD line & signal line is getting weaker (you can see both indicators curve seems lower than the previous wave). We should monitor.
marked the time zone where the index turned bearish for the 1H chart. There was no re-entry position as trading in Asia time zone.
The significant pull-back continues when market re-open here. It's 10% pull back this morning. Well, this is a good chance to look at for a better re-entry level. However, we should be cautious to avoid catching falling knives 🗡
what we see from the 1H chart MACD & KDJ both are on the downtrend level/bearish red zone. However, we can look at the support level at 21580. If the index stays above this level then the uptrend is still intact. Otherwise, we could expect a more significant pull-back (cross-check with longer tf chart 4H,8H).
For shorter 1H tf swing trade check the 8H Chart for support/resistance level
Find support level at 21500-21700
and resistance level 22000 -22300
It has been climbing too fast and taking a break now. Personal POV, prefer the movement slow and steady forming a stable staircase; more sustainable.
Happy trading everyone! A pull-back is healthy for taking a breather.
Doge May Rise from Support Zone.When the DOGEUSD daily chart is examined; It is observed that the price movements continue above the support zone. As long as the crypto's 0.09385031 level is not broken down, it is evaluated that the price movements above the 0.10259554 level can exceed the 0.13174628 level and target the 0.16585265 level.
Will Bitcoin Continue Its Rise?When the BTCUSD 8-hour chart is examined; It is observed that the price movements continue above the support zone. As long as the crypto's 57803 level is not broken down, it is evaluated that the price movements above the 59171 level can exceed the 63223 level and target the 66250 level.
Crude Oil Prices Are Falling.When the USDWTI 4-hour chart is examined; It is observed that the price movements continue with the head and shoulders formation on the trend line. As long as the Crude Oil price cannot pass the 70.28 level, it is evaluated that the price movements below the 68.68 level may break the 66.97 level and retreat to the 62.18 level.
Gold Prices May Pull BackWhen the XAUUSD 4-hour chart is examined; It is observed that the price movements continue with the formation of an inverted cup formation on the trend line. As long as the Gold Ounce price cannot pass the 2667 level, it is evaluated that the price movements below the 2645 level can break the 2624 level and retreat to the 2580 level.
Will DE30 DAX Index Make a New High?When the DAX 4-hour chart is examined; It is observed that the price movements continue in an upward trend. As long as the index price does not break down from the 19050 level, it is evaluated that the price movements above the 19246 level may exceed the 19510 level and target the 19700 level.
Will US100 NASDAQ Continue to Rise?When the US100 4-hour chart is examined; It is observed that the price movements continue within the parallel channel. As long as the index price does not break down from the 19521 level, it is evaluated that the price movements above the 19826 level may exceed the 20313 level and target the 20548 level.
Use of Various Technical indicators. (Educational Post)Nifty again after making a new high ended in negative today. Main reason for nifty ending in negative can be attributed to channel top resistance. RSI (Relative strength Index) reached over heated zone and peaked above 80 showing the market was overheated, this was the second reason of Nifty ended in red of Friday after a fantastic weak. RSI of monthly and weekly and daily candles also shows that Nifty is in the overbought zone. This can continue for a while or Nifty can dive next week or in the coming time searching for it's supports for the purpose of correction or consolidation. On hourly chart as seen above RSI Peak is near 81 with supports near 57 and 47 range. Currently the RSI is at 64.67.
Bollinger Band is also suggesting temporary market peak near 26336 and strong support near 26092 and 25866.
MACD is also signaling towards consolidation and correction as the coveted blue line seen in the chart is dipping below red line. Histograms sine wave is going towards negative zone with some strength in it's stride.
50 hours EMA or the mother line is near 25909 and 200 hours EMA or the father line is near 25345.
Parallel channel indicates top near 26336. Mid channel support near 25866 and channel bottom support is near 25595.
Trend line support is near 26148 and trend top seems to be near 26437.
Supports and resistances drawn based on recent peaks and valleys are as under:
Supports at: 26148, 26037, 25866 and 25595.
Resistances at: 26277 (All time high resistance)
In the above chart and data we have used the combination of Supports and Resistances, Trend lines, EMA, MACD, RSI, Parallel Channel, Bollinger Bands. You must have seen that various Technical indicators many a times indicate same or similar levels. Thus instead of trying to master many indicators, if you can focus on a few and master them, you will be more often correct. As Bruce Lee has famously said and I quote him, "I am not afraid of someone who knows 10000 kicks, I am afraid of the one who has practised 1 kick 10,000 times."
It is also said in Sanskrit 'Sarva Deva Namaskaram, Keshavam Prati gacchati'. Pray to any of the divine forces but they ultimately end up at the feet of the supreme God head. Nasiruddin Shah had also said in a movie (Kabhi Haan Kabhi Na) "Idhar se jao, udhar se jao, ultimately sab rasta God ke pass jata hai." Deducing from it many indicators often yield same results. Master 2 or 3 of them and they will make you a great analyst.
Conclusion: Learn, unlearn, relearn and master a few indicators rather than trying to know many indicators. They will help you create generational wealth. To know more about these indicators and how to use them and to understand Techno-Funda investment, read my book: The Happy Candles Way to Wealth creation available on Amazon in Paperback or Kindle version.
The information regarding Nifty in this article is for the purpose of education and to show how various indicators often give same or similar result.
To know more about when to book profit? Where to place a stop loss or what is trailing stop loss you are recommended to read my book: The Happy Candles Way to Wealth creation which is available on Amazon in paperback or kindle version. You can also comment below or send a message to us.
Disclaimer:
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Will SUGAR Cup Reach Its Target?When the SUGAR 8-hour chart is examined; It is observed that the price movements continue within the Cup formation formation. It is evaluated that the SUGAR price may retreat to the level of 2077 in price movements below the level of 2278, but it is evaluated that in price movements above the level of 2278, it may exceed the level of 2412 and target the level of 2964.
Support And Resistance# GOLD Update...!
BULLISH BREAKOUT LONG POSITION.
Gold is going up now. Gold manage to create a new all time high.with a bullish breakout of the key level 2593 - 2585. Now we will buy on the retest that gold has broken out levels so we are locally bullish and i'm looking further growth in gold price. Keep an eye in these levels and potential outcomes.
Always use proper risk to reward ratio.
Can USDZAR Break Through Resistance Zone?When the USDZAR 4-hour chart is examined; It is observed that price movements continue below the resistance zone. It is evaluated that USDZAR can target 17.663959 in price movements above 17.108625, but as long as the 18.025658 level cannot be passed, it is evaluated that in price movements below 17.663959, it can break down 17.108625 and retreat to 16.202552.