AMD Imminent Breakout for NASDAQ:AMD by UnknownUnicorn5323213

AMD Imminent Breakout

Absolute stunner for technicals, all indicators point to a breakout above a 20y-old upper trend-line, including a run for the all-time-high (later). At this point it's difficult to say how the stock will behave after the run, or where that run will stop or consolidate respectively. But for now it's all about the stock sitting on top of the 'weekly' Heikin Ashi Average and is aiming at that 'weekly' PSAR point (perfect straight series!) right above it which is very likely to break this week. As mentioned in a previous analysis, the stock creates recurring higher highs, sits on top of all MA's and is therefor rated strong-buy.

Note

Yesterday's gap has been filled. All up from here.

Note

Still making higher lows:

Note

AMD posts below estimates, stock is lower but holding steady above $32.

Note

Earnings release was quite impressive actually, while below estimates, great guidance and in profits after all. Most of its expenditures went to R&D. AH performance looks rather balanced. Stock remains bullish, including an in-tact cup-n-handle.

Note

Likely to touch down on the trend line before heading higher.

Note

Stock remains bullish above $31

Trade closed: target reached

UnknownUnicorn5323213

Related publications

AMD: Full Steam Ahead

by UnknownUnicorn5323213

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.