AMD: Beating Market Expectation, Bullish Bias Ahead?
Updated
Hello Fellow Global Stock Trader, Here's a Technical outlook for AMD Stock!
Price Action Analysis
After Rebounding on the Fibonacci Golden Ratio Area, AMD has broken out of the bearish channeling pattern. The breakout could confirm a possible bullish trend ahead. The MACD Indicator made a golden cross, signifying a possible upside movement to the target area.
Fundamental Drives
- AMD Q4 Earning 2022 was beating the analyst expectations:
Revenue: $5.6 Billion versus $5.5 Billion Expected
Adjusted EPS: $0.69 versus $0.67 Expected
-Lisa Su plans to release AI chips
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/support area.
Support the channel by smashing the rocket button and sharing your opinions in the comment below!
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the AMD"
Price Action Analysis
After Rebounding on the Fibonacci Golden Ratio Area, AMD has broken out of the bearish channeling pattern. The breakout could confirm a possible bullish trend ahead. The MACD Indicator made a golden cross, signifying a possible upside movement to the target area.
Fundamental Drives
- AMD Q4 Earning 2022 was beating the analyst expectations:
Revenue: $5.6 Billion versus $5.5 Billion Expected
Adjusted EPS: $0.69 versus $0.67 Expected
-Lisa Su plans to release AI chips
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/support area.
Support the channel by smashing the rocket button and sharing your opinions in the comment below!
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the AMD"
Note
Done Target 1, Will it go even further to the second target?
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