AMD trade ideas
AMD shortAMD in a rising wedge
Short setup with risk-reward ratio: 8,7
Entree, stoploss and exit are on the chart.
AMD: Beware the trapNASDAQ:AMD had an amazing day launching higher after their earnings report.
That being said... a trap is forming.
We have detected a rug pull event on the 30 min. timeframe at the $97 price level. This brings a high probability that price action will drop back to $97 sometime in the near future.
See below for other examples of rug pulls on the NASDAQ:AMD 30 minute timeframe:
Of note, there are several dormant rug pull events in the $109-$111 price range on smaller timeframes, so we do expect price to continue to this range as a minimum upside target.
A substantial break of the AVWAP would indicate a reversal back to $97 has likely begun. This currently sits around $104.
Keeping an eye on this one...
$AMD Double Bottom Bouncehere is a technical analysis description of AMD stock, observing a double bottom pattern, indicating a potential rebound:
AMD Stock Technical Analysis: Double Bottom Pattern
Advanced Micro Devices, Inc. (AMD) stock has been in a downtrend since the beginning of the year. However, in recent weeks, it has formed a double bottom pattern, which is a bullish reversal signal.
A double bottom pattern is formed when a security's price falls to a low, rebounds, falls back to the same low, and then rebounds again. The second rebound is typically accompanied by an increase in volume, which confirms that buyers are gaining control of the market.
In the case of AMD stock, the first bottom was formed in June at around $70 per share. The stock then rebounded to over $80 per share in July, but it fell back to the same low in August. The stock has since rebounded again, and it is now trading above $75 per share.
The double bottom pattern on AMD stock is also supported by a bullish divergence in the MACD indicator. The MACD is a momentum indicator that compares the moving average of a security's closing price to the moving average of its 26-day exponential moving average.
A bullish divergence occurs when the price of a security is making lower lows, but the MACD is making higher lows. This indicates that the momentum of the downtrend is weakening, and that a reversal is likely.
Overall, the technical analysis of AMD stock suggests that a rebound is in the making. The double bottom pattern and the bullish divergence in the MACD indicator are both bullish signals.
AMD Shares Climb 9% On AI Optimism Despite Lowering GuidanceAMD expects to sell $2 billion in AI-powered chips next year, as it attempts to catch up to rival Nvidia.
Advanced Micro Devices (AMD) shares leaped more than 9% Wednesday after the company said it expects to sell $2 billion in AI-powered chips next year as it attempts to catch up to market leader and rival Nvidia (NVDA).
The company, which reported better-than-expected third quarter earnings yesterday, is projecting revenue of $6.1 billion (plus or minus $300 million) in the last three months of the year. That number is up from $5.8 billion for the third quarter but below the $6.4 billion analysts had expected.
However, according to some analysts, AMD's lineup of AI processors is more important than its embedded business—chips for industrial, automotive and networking sectors.
AMD is ramping up its investments in artificial intelligence (AI) in an effort to catch up to rival Nvidia, which has become one of the world's biggest semiconductor companies with a market cap exceeding $1 trillion.
AMD's MI300 processor, which the company has described as "the world's most advanced accelerator for generative AI," could help the chipmaker catch up to its bigger rival. Sales of AI-powered graphics processing units (GPUs) are expected to reach $2 billion next year, AMD Chair and CEO Lisa Su said on the company's earnings call.
Su earlier this year called AI "the defining technology shaping the next generation of computing and the largest strategic growth opportunity for AMD," and said the company is "laser-focused on accelerating the deployment of AI platforms at scale in the data center."
Shipments of MI300 processors are expected to begin by the end of 2023, Su said at a product showcase in June.
With Wednesday's gain, shares of AMD are up almost 69% so far this year. While impressive, it's a small gain compared to those of rival Nvidia, which has almost tripled year-to-date and is the S&P 500's best-performing stock this year.
AMD: Not long term bullish yet.Advanced Micro Devices has had an enormously bullish day as a natural result of yesterday's better than expected earnings and this rise closed the session almost at the top of the Channel Down pattern. This was enough to turn the 1D timeframe bullish (RSI = 59.297, MACD = -1.230, ADX = 33.876).
This however isn't yet a long term buy signal buy for the first time since June, it is an encouraging one as it is being executed after a 1D MACD Bullish Divergence, on a Bullish Cross too. However we will only buy for the long term after the price crosses over the R1 level and then retests it as Support. If fulfilled, our target will be the 0.786 Fibonacci level (TP = 124.00).
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Downtrend line hitNice day for AMD, bodes well for long-term holders... unfortunately the downtrend line won't make it easy for more gains. Look for a pullback or a rejection.
AMD bearish downtrend heading into ER, can it break?🐻good ER report and rally to 100-120 should come quick! nice support here for AMD 🚀
Break of 91.85/trend support zone and there's no short term support till low 80s! bad news for longs if this comes
Boost and follow for more.. thanks 💜
Damn Im Good With Charts. AMD Hit both my implied targets. I dont change my charts. Once i draw a line or trend it stays there. AMD is now breaking out of that downtrend channel or some would see a bull flag. Itll be a slow grind but 110 by Dec IMO.
AMD - BEARHere is another trade we are currently in... Aleady Banked some of the move down.
How this one started...
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We also ran 100% returns from last week in the 500p we took from 5 pairs in the #FX markets.
AMD Earnings Breakout or Breakdown??With Q3 '23 earnings set for tomorrow 10/30/23 AMD is perfectly positioned for a huge move to either the downside or the upside. Stock has traded in a descending channel since experiencing a meteoric rise after reporting Q1 '23 earnings, ultimately setting a high-water mark of $132.83 on 06/13/23. Overall Market has been in a downward trend and many stocks are trading at critical levels of support. Earnings trend has been to run up on good results in the pre and after markets, only to show weakness during the trading session. TNX, DXY, and VIX are all trading at heightened levels and due for a pullback possibly opening the door for stocks to go higher. However, current macro-economic data and social/political events could drive markets lower.
Bull Case
1. Strength above red Ascending Support Trendline
2. Strength at the bottom of the Descending Channel(D).
*Possible DBL BTM forming at Key Level that coincides with the bottom of the Descending Channel(D), Ascending Support(D)(Red Trendline), and the Golden Zone(Yellow Rectangle) of a Fib Retracement from the 52wk Low to the high-water mark made after earnings.
*AVWAP(52wk Low) adding additional confluence to the area.
3. Break above the 200MA(D), 50MA(D), and 100MA(D)
*Stock is currently trading below all three.
4. Break above Descending Channel(D)
5. Bullish price action, candlesticks, or chart patterns inside the Golden Zone.
Bear Case
1. Rejection of the 200MA(D), 50MA(D), or 100MA(D)
*Stock is currently trading below all three.
2. Weakness below Ascending Support(D)(Red Trendline)
*A break below the AVWAP(52wk Low), Key Level, or the VAL(AVP)(52wk Low) would be strong confirmation of further downward pressure.
3. Break below the bottom of the Descending Channel(D)
Awareness Category
1. Stock is trading at the bottom of the Bollinger Bands.
2. Chart is set to confirm a DBL BTM or DBL TOP. Follow the trend.
3. RSI(D) is oversold however, it may have formed a DBL BTM signaling a reversal.
4. Market continues to exhibit signs of distribution, resulting in huge swings in both directions.
AMD EOY Targets Ta including channels, fibs, and indicators I show will I believe AMD will end up by the end of 2023. I believe it could even go a bit higher into next year... It just had a great earnings report for Q3.. Just need the fed to not kill the market tomorrow and AMD can start flying.
AMD - BULLISH SCENARIOAdvanced Micro Devices (AMD) has projected $2 billion in 2024 sales from a new chip designed to compete with Nvidia, helping their stock rebound after missing quarterly expectations. While their gaming and certain programmable chip segments faced challenges, AMD expects the MI300 chip to generate $400 million in Q4 revenue, with a 2024 sales forecast of $2 billion. AMD is preparing to launch the MI300X chip, aiming to rival Nvidia in the data center AI market. AMD's CEO, Lisa Su, mentioned that multiple large hyperscale customers have committed to using the MI300 chips. Despite these positive developments, other segments faced difficulties.
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💵 E a r n i n g s J o u r n a l📶 S T A T I S T I C A L A N A L Y S I S
Current 50-Day Market Trend: short/sellers/negative.
Next Swing: positive swing to resistance.
Next Wave: buy wave to the deviation.
Next 50-Day Market Trend: long/buyers/positive.
Trade Type: Touch & Go don't wait for a close.
💵 E A R N I N G S A T A G L A N C E
Release Date: 10/31 AMC
Quarter: FQ3'23
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Revenue Anticipations: positive surprise of Revenues.
Revenue Surprise-Confidence: on a scale of 0-9, #4
Revenue 2-Year Trend: the company trend in Revenues is positive.
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EPS Anticipations: positive surprise of EPS.
EPS Surprise-Confidence: on a scale of 0-9, #5
EPS 2-Year Trend: the company trend in EPS is neutral.
_______________________________________________
📝 S Y N O P S I S
🟢 Buy ~ If the earnings report is above the Wall Street consensus, I expect the market will buy the +surprise.
⚪ Neutral ~ If the earnings report is released with complicating press, I expect the market will avoid the surprise and invest in alternative securities.
🔴 Sell ~ If the earnings report is below the Wall Street consensus, I expect the market will sell the -surprise.
🔎 R E S E A R C H D E P T H
Technical Analysis: daily chart.
Fundamental Analysis: EPS & Revenue data.
Press/News: none.
Social Media: none.
☝️ P R O V I S I O N
The analysis presented is incomplete work thereby can't safely trade in the Market by itself.
Earning Price Action - Gap fill or Major BustJust my thoughts on the trend, not exact science but my best efforts based on last 3 weeks price actions
Do your on research/ this is not adivice
Buy AMD before they report earnings tomorrow..We highly recommend buying AMD into the close today ahead of their Q3 earnings report tomorrow where we are expected to hear a beat in sales and hopefully a better than expected report on the sales of their MI300X AI chip.
I believe that Lisa Sue will give several positive updates on the business and its strategy moving forward which should lead to an incline in the stock price back towards the previous swing highs for the stock around $120/130 a share.
AMD LongAMD is technically bullish if Resistance trendline and 50 DMA is broken. It will be hard but the bounce off of orderblock suggests buying activity is primed for this name.
PS- Not financial advise. Do your own due diligence.
AMD to below 40The giant run up over the last year accomplished one thing: forming a giant glaring lower high. people don't see it, they think we're forming a cup and handle. they are dead wrong. the big stocks with unreal PE ratios are all going to crash back down to earth. We KNOW that the fed cannot fix inflation without a recession and crash. the irrational runup over the last year is just more fuel for the dump. Zooming out to the monthly we can see this happened twice in the 2000's and remember AMD was priced below 2 dollars just a few years back. The giant runup we had since that 2 dollar market is going to almost completely retrace. do not take a long position in the faang stocks, they are a timebomb and they are about to go off.
Some thoughts on AMDI expect AMD in the second half of the November at $86-87 and probability of the bounce will be quite high because:
- there's a level at $86-87
- EMA 200 is expected to be at $86-87
- down trend line at $86-87
- RSI will meet the level at 40
Globally I would expect AMD at $74 in the mid of April 2024 and after this the trend should be reversed and go up.
AMD about to collapseAMD in a massive falling wedge. Looks like it will break by tomorrows open. I'm assuming Powell will be the cause.
AMD EXTENDED/DELAYED BULL FLAG BREAKOUTWith Er just around the corner this is my vision for AMD earnings. The breakout failed only because market sentiment.
AMD Inverted H&S (4H)AMD on the 4 hour chart is creating a possible head and shoulders pattern at a demand/support zone (Blue zone).
Additional confluences:
- Falling wedge at a key support/demand zone
- RSI bullish divergence (Illustrated by blue slanted lines.)
- MACD histogram bullish divergence (Illustrated by blue slanted lines.)
- 4H candles creating a double bottom at the base of falling wedge
Swing Idea: I will watch for price to move above the next resistance at the yellow zone between ($101.46 - $101.72). Creating a higher high than higher low before holding above the yellow zone. This move is Illustrated by the solid black line with the arrow. Being that this is an inverted head and shoulders pattern, I am looking to swing to the neckline which is located at the next major resistance at the red zone above between ($111.09 - $111.77). Stop loss is daily timeframe candle close below $99.07.
TARGETS: $104.67, $106.93, $109.85
STOP LOSS: $99.07
CAUTION: AMD has earnings reporting on October 31st so this will either destroy this trade or put us deep in profit.
