AMD is having a major breakout of the long term resistance line and the short term support line. I think it's going bearish. I think it's going to retrace to at least 9.94 - 10.81
AMD retested a gap today and closed above the support level. If the stock continues up tomorrow, will enter with a stop limit order of 11.78. ultimate target would be around 16.38 where the next solid resistance level is.
Short and Sweet
Nvidia is floating around 100+-
Intel is floating around 35+-
Intel Reported 15.8 Billion in Revenue in Fiscal Year 3Q 2016
Nvidia Reported 2.0 Billion in Revenue in Fiscal Year 17 3Q (2016)
Amd Reported 1.06 Billion in Revenue in Fiscal Year 3Q 2016
_Polaris alone has boosted AMD's share over 400%
Ryzen ( SR 7-3 and Naples ), _Vega,...
Increasing revenue, assets and decreasing liabilities throughout 2016 are definitely telling us company's doing good. However, sixfold increase in price is nuts compared to AMD's actual achievements.
Ratios support this point of view:
PE: 241.40 (forward PE, current one is negative)
Intel's PE: 17.98
Price/Book: 29.01
Intel's Price/Book: 2.86
Be careful, now...
I'd wait for pullback and buy with stops at the blue line. Or, if you're very bearish or you could try to wait for price to touch the bottom of the larger channel.
All lines are filled with speculation -- to estimate that each actual trends are followed by corresponding multiple peaks, valleys and body of trends.
"Confirmed Pathway" are confirmed as per constraints by each of those projected lines.
Possible projection may go through the body of "Projection Zone" between Price Range: 8.90 to 9.85 & Date Range: 7th to 15th...
Just something to be watchful for when any significant moves happen. Nvidia and AMD have been trading together for a long time. AMD in red and NVDA in green.
Long time consolidation finally broke out, now one can buy breakout or wait for the pull back. I think downside risk is low, so slow bids would be good.
