AMD bullish if it reaches 87
Updated
Hi Traders! AMD are investors patiently waiting for ER Q2, there is a good chance of a runup before or after earnings. AMD has managed to end the downward trend that started in feb 2021, and are now in an uptrend. From half May until the beginning of July AMD has had a beautiful run and has had a good correction like it should have, and closed just below the new trend line on the 16th of July.
Fundamentally AMD has very bullish case in our opinion.
Fundamentally very bullish because:
- AMD has proven that they are able to handle the chip shortage very well .
- Revenue and profit is expected to reach a new high.
- Xilinx, acquisition, the deal is now in a final stage. With AMD acquiring Xilinx they are diversifying their portfolio and it allows AMD to enter new markets like the 5G cellular market.
Technically:
- Trend line is still intact even though it closed below, it has not broken in our opinion, as a retest is very likely.
- 200MA support
Technically the stock looks okay, not convincing enough to jump in yet, but if price manages to reach 87USD, we expect the bullish trend to continue- That + a positive earnings report can make the stock chase ATH again. If the price goes below 85USD we consider the trend line broken and makes this thesis invalid.
Entry: 87USD
SL: 85USD
T1: 95USD (Re-evaluate after ER and new technical info)
Disclaimer: This is not financial advice but made for education purposes only!
Fundamentally AMD has very bullish case in our opinion.
Fundamentally very bullish because:
- AMD has proven that they are able to handle the chip shortage very well .
- Revenue and profit is expected to reach a new high.
- Xilinx, acquisition, the deal is now in a final stage. With AMD acquiring Xilinx they are diversifying their portfolio and it allows AMD to enter new markets like the 5G cellular market.
Technically:
- Trend line is still intact even though it closed below, it has not broken in our opinion, as a retest is very likely.
- 200MA support
Technically the stock looks okay, not convincing enough to jump in yet, but if price manages to reach 87USD, we expect the bullish trend to continue- That + a positive earnings report can make the stock chase ATH again. If the price goes below 85USD we consider the trend line broken and makes this thesis invalid.
Entry: 87USD
SL: 85USD
T1: 95USD (Re-evaluate after ER and new technical info)
Disclaimer: This is not financial advice but made for education purposes only!
Note
Our target was 95USD and we almost reached it! Now the MACD signal line is reversing indicating a bullish trend.
While Intel is still loosing market share, the expectations about AMD are positive. Tomorrow Jul 27 the company will post the Q2 Earnings and they are supposed to record a improvement in the sales.
You can still enter here at 92USD with SL at 88USD
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