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AMD broke above the Lower Highs and confirms a massive rally.It's been a while (August 13, see chart below) since we last looked into the Advanced Micro Devices (AMD), which was a strong long-term buy signal, with the price reacting very favorably, having already started its new Bullish Leg: Today we take it to the 1D time-frame where where the scale of where the price might be compared to the previous two mega rallies since the October 13 2023 bottom, may be clearer. Remarkably, the last two rallies were both of around +142%. In symmetrical terms we are around the 0.618 Fibonacci level mark where both Bullish Legs had a technical pull-back. The key bullish development of last week though has been the break above the Lower Highs trend-line, which in line with previous Legs, has been the confirmation of the start of the long-term rally. As a result, we have now validated that the Bearish Leg is behind us and any pull-backs this structure gives, will be buy opportunities. Our Target is intact at $295.00. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:AMDLong
by TradingShot
4
Bulls Eye AMD: Key Breakout Levels Ahead**Brief News Update:** AMD will host the "Advancing AI" event on October 10, 2024, where it will unveil its latest Instinct MI325X AI accelerators and 5th generation EPYC processors. These products target high-performance computing and AI applications, with the MI325X offering up to 288 GB HBM3E VRAM and 6 TB/s bandwidth. Updates for the Ryzen AI PRO 300 series chips are also expected, potentially hinting at future line-ups like Strix Halo. The event will be streamed live via AMD's website and YouTube channel. AMD is expected to announce its quarterly earnings on October 29, 2024. **Monthly Timeframe Analysis** Five months ago*, I highlighted the Scallop formation, which has since broken out to the downside. However, the bulls managed to push the price back into the Scallop zone, as the closing price consistently remained within the range. This suggests that the bulls are keen on keeping the price above $140. The last two white bullish candles indicate a strong move, and my DTMI indicator points to a potential trend reversal. However, keep in mind that the white dot is on a still-open candle, so it is not yet confirmed. The #stoch RSI indicates there is still room for upward movement. **Weekly Timeframe Analysis** Looking more closely at the regular candles, while the broader picture suggests room for further upside, the trend needs to break first. We see a lower high (LH) and a lower low (LL) printed. The $187.28 level needs to be broken to look higher. If this doesn't happen, we may print another lower high (LH), and the previous low will likely be tested again, with a possible drop toward the psychological level of $100. It's crucial to monitor the market #structure closely, as the breakout of the resistance line occurred without above-average volume. This may mean the volume is yet to come, perhaps with the event on October 10. **4H Timeframe Analysis** I also want to discuss the W-formation, where the price is currently closing a gap. However, we must still account for a potential pullback to the underlying mini-gap. If the $162 level holds, this formation could present a good point for a trend reversal. As mentioned earlier, the $187 level must be broken to confirm the upward structure. **Conclusion:** The price shows signs of a potential upward movement on both the monthly and weekly timeframes, with a few critical resistance and support levels to watch. The upcoming event on October 10 could act as a catalyst for further upward movement, but there isn't enough volume to confirm this yet. Be mindful of pullbacks and the trend. On the Weekly timeframe 5 months ago*, since April, we’ve seen a ⁠choch forming with lower highs and lows, signaling a downtrend below the ⁠EMA 50. A bullish reversal in January 2023 led to an uptrend, reaching an ATH on March 4, 2024. The current pullback to the 0.5 Fibonacci level, supported by the ⁠EMA 50, aligns with an inverted ascending scallop, indicating a potential turning point as the ⁠stoch hits the floor. **Resistance Levels:** - $313 (Scallop target) - $227 (#ath) - $187.28 **Support Levels:** - $162 (W-formation) - $140 - Psychological level of $100 *Disclaimer: This is not financial advice. Always do your own research and assess your risks carefully.*
NASDAQ:AMD
by Tims.Technische.Analyse.
Weekly Recap & Market Forecast $SPX (Oct 6th—> Oct 11th)Looking Ahead: Next week will bring several key events: Monday: Fed Speak; Nvidia AI Summit ( NASDAQ:NVDA ) Tuesday: PepsiCo Earnings ( NASDAQ:PEP ) Wednesday: Fed FOMC Minutes; 10-Year Bond Auction Thursday: CPI Inflation, Jobless Claims; Tesla Robotaxi Event ( NASDAQ:TSLA ) Friday: PPI Inflation, Consumer Sentiment; Bank Earnings ( NYSE:JPM , NYSE:WFC , NYSE:BLK ) As we move forward, these developments will be crucial in shaping market sentiment and guiding investment decisions. If you have any questions or need further insights, feel free to reach out. Here’s to another week of informed investing and strategic decision-making! 🌟
SP:SPXLong
by WallSt007
$AMD Chart Setup: A Strategic Play Ahead of Advancing AI Event.As we approach AMD’s highly anticipated Advancing AI event this Thursday, the market may soon see the company in a whole new light. Historically, these events tend to prompt a "sell the news" reaction, giving us the opportunity to front-run the event throughout the week. The chart is setting up nicely with a confirmed wedge breakout, supported by strong bullish volume on both daily and weekly candles. If the stock goes flat or even sells off ahead of the event, it could present a bullish opportunity for us to capitalize on, if it continues to run, could be a short opportunity as the move could be priced in. My positions are as follows: Calls over $171.21, with targets at $177.55 and $185. Puts under $164.42, with targets at $162.58 and $154.49. Let’s stay sharp and position ourselves for what could be a pivotal moment for NASDAQ:AMD this week. Cheers.
NASDAQ:AMD
by Solidified
4
Be careful with AMD !!!Be careful with AMD !!! we can hope that the price will act like a Crab pattern and the price will grow well. I expect that the price will grow very quickly... ✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us. Best regards CobraVanguard.💚 _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
NASDAQ:AMDLong
by CobraVanguard
1
Amd - Targeting New All Time Highs! Amd ( NASDAQ:AMD ) is targeting new all time highs: Click chart above to see the detailed analysis👆🏻 This month Amd perfectly retested and already rejected the previous resistance which was turned support after the bullish breakout. Following the overall swings inside of the rising channel formation, I do expect Amd to create new all time highs over the next months. Levels to watch: $250 Keep your long term vision, Philip (BasicTrading)
NASDAQ:AMDLong
by basictradingtv
10
AMD: Close to giving the signal for mega buy to $295.Advanced Micro Devices is about to test the 1D MA200 on very healthy bullish technicals on the 1D timeframe (RSI = 60.924, MACD = 3.070, ADX = 28.078). This chart is on the 1W timeframe which is still neutral (RSI = 52.205, MACD = -1.400, ADX = 23.295), meaning that if the 1D MA200 breaks, the market would still be significantly undervalued with strong upside potential. As shown the long term pattern is a Channel Up, with the Fibonacci levels explaining pressure zones. The two bullish waves of the Channel have remarkably been of the exact same rise (+143.89%). If the once that will be validated by the 1D MA200 crossing posts the same rally, we expect the 0.786 Fib Channel level to be reached and we will set our target accordingly.(TP = 295.00). Perhaps the strongest reason to buy for the long term right now is the Bullish Cross on the 1W MACD (seen on the pane below the chart). This has been formed exactly on the two prior bottoms of the Channel on November 6th 2023 and November 14th 2022. Combined with the 1D MA200 breakout, this MACD formation is the mega buy signal we've been waiting for. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NASDAQ:AMDLong
by InvestingScope
AMD... Is it time to BUY?? YESSIR!!What are we looking at technically? - The market is in an obvious uptrend - A bullish BOS (break of structure) - A retracement to the OTE (Optimal Trade Entry) fib levels between .705 - .786 - The bullish FVG is also aligned with the OTE levels for a confluence of support - Price has formed a fractal low on the +FVG as price completed the External to Internal run on liquidity. Now comes the IRL back to the ERL move. The swing high at 227.30 is the target, as that is where the buy side liquidity is. Fundamentally, the recent Amazon partnership is the latest move that will give AMD a huge boost. Not mention the AMD may become a buyer of INTEL's AI Fabric Chip. Things are looking up for the organization. What do you think? It's a BUY for me. Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
NASDAQ:AMDLong
by RT_Money
Is SMCI a buy? SMCI has lagged NVDA and many other semis. Were now approaching a critical area...its make or break! positive Daily divergence provides some hopes that were close to a near term bounce however after today semiconductor selloff the whole complex was shattered. The fact that SMCI remained green while NVDA was down 10% should be a small win in itself... The question is can it hold and build on this? I do think its better positioned for a long than most semis. No confirmed technical breakdown has occurred yet
NASDAQ:SMCI
by Trading-Capital
1
Technical Analysis on AMD (Advanced Micro Devices)Analyzing the historical performance of AMD , a key turning point is evident that marked the beginning of the current bullish phase—starting at the end of 2015. During this period, the stock held an important support level, followed by a decisive breakout of the bearish trendline. On a daily timeframe, this breakout was accompanied by a gap up, known as a breakaway gap. During the upward phase, the stock experienced pullbacks ranging from 40% to 60%. The most recent pullback, which began with a Shooting Star candle, was 45% and stopped precisely at a crucial Fibonacci level of 0.618. Bullish Scenario: To confirm a continuation of the bullish trend, AMD must first surpass the $160 area and then the $190 area, a range characterized by significant volumes. Bearish Scenario: If the stock fails to exceed these two levels, it could continue its retracement by breaking the ascending trendline. Two potential entry levels can be found in the POC area around $180 and the support area around $95.
NASDAQ:AMD
by Giovanni_Bandini
Nvidia Stock Soars On Blowout GuidanceSoaring demand for the chips needed to train the latest wave of generative artificial intelligence systems such as ChatGPT led Nvidia to issue a revenue forecast far ahead of Wall Street expectations, prompting a surge in its stock price in after market trading. The US chipmaker on Wednesday said it expected sales to reach 11bn dollar in the three months to the end of July, more than 50 per cent ahead of the 7.2bn dollar analysts had been expecting and confirming its position as the biggest short-term beneficiary of the AI race that has broken out in the technology industry. The forecast fuelled a 27 per cent leap in Nvidia’s shares, which had already more than doubled since the start of the year, and lifted its stock market value to a record 960 bn dollar. Jensen Huang, chief executive, said the company was “significantly increasing our supply to meet surging demand” for its entire family of data centre chips, including the H100, a product launched this year that was designed to handle the demands of so-called large language models such as OpenAI’s GPT4. The race in the tech industry to develop larger AI models has led some customers to worry privately about a shortage of H100 chips, which only went on sale earlier this year. However, Nvidia’s $4.28bn in sales to data centre customers in its latest quarter topped even the most optimistic analysts’ forecasts, and the company said there had been strong sales of both the H100 and its A100 chips, based on its previous chip architecture. Nvidia’s forecast noted a potential doubling of sales to data centre customers in three months, even though data centre sales were running at an annualised rate of $17bn in the opening quarter of this year. Growth is coming from customers across the board, Kress said, with consumer internet companies, cloud computing providers and enterprise customers all rushing to apply the generative AI to their businesses. The bullish forecast came as Nvidia reported revenue and earnings in its latest quarter, to the end of April, had also topped forecasts, thanks to a jump in sales to data centre customers as demand for AI took off. Revenue reached $7.19bn, up 19 per cent from the preceding three months but down 13 per cent from the year before, as sales of chips for gaming systems dropped. Earnings per share rose 22 per cent from a year before to 82 cents, or $1.09 on the pro forma basis Wall Street judges the company. The consensus view on Wall Street had been for revenue of $6.52bn and pro forma earnings of 92 cents a share. now let's delve into the numbers. Nvidia's different business units did not all perform equally well during the quarter - which can be expected, of course. Nvidia's data center business grossed revenues of $4.3 billion during the first quarter, which represents a new record high. Data center demand is not very cyclical, and companies kept investing in new equipment despite a potential recession being on the horizon. This can be explained by the fact that data centers are mission critical for many companies, so they don't really have a lot of choice when it comes to allocating capital to this space. Strong data center sales also have been seen in the results of other chip companies such as Advanced Micro Devices (AMD). Both Nvidia and AMD also were able to benefit from the weak performance of their competitor Intel (INTC), as Intel has been losing market share in the data center space in recent quarters due to self-inflicted problems and an unconvincing product line-up. Nvidia is a major graphic chip or GPU player and is thus heavily impacted by the performance of related end markets. This includes both cryptocurrency mining and gaming. While some cryptocurrencies can't be mined with GPUs economically, such as Bitcoin, others, such as Ethereum, can be mined with GPUs. Ethereum moved from a proof-of-work model to a proof-of-stake model in the fall of 2022, but some miners still use GPUs for Ethereum mining. Not surprisingly, Nvidia's sales to this end market depend on the price for cryptocurrencies - when cryptocurrencies are expensive, miners are more eager to acquire additional GPUs and they may also be willing to pay high prices for them. During times when cryptocurrencies are less expensive, mining is less profitable, and GPU demand from cryptocurrency miners wanes. This has had an impact on Nvidia's sales in the past and likely played a role in Nvidia's Q1 sales as well. GPU sales have been under pressure in recent quarters due to lower demand by gamers as well. Many that like to play video games upgraded their hardware during the lockdown phase of the pandemic when staying at home meant that consumers had more time for video games. With many gamers having relatively new equipment, demand has declined in the recent past. At the same time, inflation pressures consumers' ability to spend on discretionary goods. On top of that, some consumers prefer to spend their money on experiences over things now as there are no lockdowns or travel restrictions in place any longer. All in all, this has resulted in a difficult macro environment for Nvidia's gaming business. Combined, the headwinds for the gaming market and the cryptocurrency market explain why Nvidia's sales and profits kept declining during the most recent quarter, relative to the results the company was able to generate one year earlier. The strong performance in the data center space was not enough to offset the headwinds Nvidia experienced in other areas. I personally going to take huge profit right now and wait for 250 $ levels
NASDAQ:NVDA
by moonypto
5
AMD Analysis: Shorting to $100 as Cup & Handle Pattern FormsHello Traders, I'm sharing a weekly chart analysis for AMD, where I’ve identified a Cup & Handle pattern. The current price is $148, and it's retesting the broken red trend line. I suggest considering a short position targeting $100. I've also included a back test for the two previous patterns, which support the validity of the middle red trend line. It's important to note that if AMD reaches the $100 level, the Cup & Handle pattern above the blue trend line will become valid, potentially targeting even lower levels around $55, or possibly further down. Additionally, pay attention to the downtrend progression channel in cyan. The current price of $148 is positioned around the resistance of this channel's middle line. If these scenarios play out, a harmonic pattern may also form, which I will define at a later stage. Stay cautious and manage your risk!
NASDAQ:AMDShort
by Eymen-GUVEN
AMD Shares Soared After NewsAMD Shares Soared After News of a Server Manufacturer Acquisition Yesterday, it was announced that Analog Micro Devices (AMD) intends to acquire ZT Systems, a manufacturer of equipment for data centres, cloud computing, and artificial intelligence. The market responded positively, with investors believing this move could help AMD reduce Nvidia's substantial market share. As shown by the AMD stock chart, the price jumped by 4.5% yesterday. What’s next? On 30 July, we highlighted the support block formed by the $135 level and the long-term upward trendline (shown in yellow). Bears managed to push the price below this block during the overall market decline on 5 August, but only briefly. Technical analysis of AMD’s stock chart today indicates that the price has firmly risen above this support block. Moreover, the bulls demonstrated their ability to break through the median line of the descending channel (shown in red). This could suggest that the dominance bears have held since March 2024 is weakening. Looking ahead, this may lead to a test of resistance at the upper boundary of the descending channel. This resistance is strengthened by a bearish gap above the $170 level. According to forecasts from 30 Wall Street analysts surveyed by TipRanks, 24 recommend buying AMD shares. On average, they predict AMD’s price will reach $189.48 (about +22% from current levels) within the next 12 months. However, after evaluating the impact of the ZT Systems acquisition, these price forecasts may be revised upwards. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ:AMD
by FXOpen
2