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.
1AMD trade ideas
AMD - BEARHere is another trade we are currently in... Aleady Banked some of the move down.
How this one started...
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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
_______________________________________________
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.
_______________________________________________
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.
AMD Call ( Anti Alt Shark - Shark ) or ?There are 2 scenarios in my mind, both of them cancel if we break last low ( We can reevaluate then ), It's happened a lot with me when we break channel and retest it with HH, so I prefer scenario 1, which is the one that C higher than A, But I will watch the golden fib ratio before that if we assume its wave 2 and we gonna go for wave 3 , And last thing don't forget AMD's next earnings date is ( Tuesday 10/31/2023 After Market ).
AMD NeutralAMD Support at 200MA or $135.
If AMD stays and breaks out of this triangle which its been in for years on the support end and decades on the resistance end, we could see AMD in the thousands of dollars.
My personal opinion is we haven't yet seen the highs of the "AI Bubble."
Feel free to zoom in and out of chart.
ANALYSIS ON AMDDear Traders and Investors,
I'm sharing with you this analysis on AMD to tell you to close your position if you're holding a long trade, as you can see in the chart, the price pulled back on the 0.5 level of the fib and gave us a confirmation, now it's heading towards the 0.6.
For further question, don't hesitate to ask!
AMD tripple bottom or hidden bearish?#AMD still good holding with tripple bottom at 102$ after rejected 105-106$
But we still need be careful with hidden bearish with lower high.
IF #amd break down below 101.7$ will drop to 100$/98$
IF #amd can break out 106$ again, we will see AMD back test 110$
$AMD IS HOTI ll tell you right now, AMD is set to rally. 102 is the starting point to go for the 130. Price bounced at the .705, grabbed liquidity below this 102 and now is retesting it. As soon as the short term downtrend is broken, it will fly.
Trade idea is cancelled below 94.45.
Sytay tuned! NASDAQ:AMD
AMD’s Pullback Could Be EndingAdvanced Micro Devices more than doubled in the first half of the year. Now, after a healthy pullback, the semiconductor stock may be ready to climb again.
The first pattern on today’s chart is the falling trendline along the highs of June, August and September. AMD pushed through that line last week and has remained above it since.
Next, the $105 area was a peak on September 29. Prices tested it on Friday but are now rebounding. Has old resistance become new support?
Third, the current gains are occurring at the 50-day simple moving average (SMA). Further upside from here could turn the intermediate-term trend higher.
Also notice how the bounce started at the 200-day SMA on September 25. That may suggest its longer-term uptrend remains in effect.
Finally, MACD is rising and the 8-day exponential moving average (EMA) is above the 21-day EMA. Those signals could reflect more bullish price action in the shorter term.
The next earnings date is estimated for October 31.
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Bullish on AMD.
As you see here on the daily chart, we are bouncing off of a weekly trendline. We are also forming a bullish flag pattern on the weekly chart. So, I would look for a price break above the trend line on the daily chart with heavy volume and look to hold for a few days. This is a beautiful play.
🔥AMD Bullish Trend Analysis🙌AMD broke out of descending triangle pattern on weekly time frame (bullish). I suspect price will rise short/mid-term towards the labeled targets.
Happy Trading 🌕
