AMD - Short Term Bearish
Updated
There is no doubt that AMD has had a monster move.
27 Aug 2018 AMD closed at 25.26, which showed a Shooting Star doji on the daily chart.
28 Aug 2018 AMD closed at 25.05, which is only 0.21 off the previous day. However, I believe that it confirmed the Shooting Star.
Considerations for the short term
- AMD has closed for the last 4 days outside of the upper BB. I would expect it come back either 29 Aug 2018 or 30 Aug 2018
- This move has had a lot of FOMO and chasing, a correction is only natural
- AMD should come back to the trend line between 22.00 - 23.00
Considerations for the long term
- AMD is positioned to take market share from Intel (Specifically the server market) and be strong competition in the GPU market
- 7nm is a huge deal
- Intel's only answer is 10nm, which by their account is being delayed.
In all fairness, I already have a short position on AMD as of this write up. Short term I'm bearish on AMD until the correction. However, there is no doubt that long term this company will continue to grow.
27 Aug 2018 AMD closed at 25.26, which showed a Shooting Star doji on the daily chart.
28 Aug 2018 AMD closed at 25.05, which is only 0.21 off the previous day. However, I believe that it confirmed the Shooting Star.
Considerations for the short term
- AMD has closed for the last 4 days outside of the upper BB. I would expect it come back either 29 Aug 2018 or 30 Aug 2018
- This move has had a lot of FOMO and chasing, a correction is only natural
- AMD should come back to the trend line between 22.00 - 23.00
Considerations for the long term
- AMD is positioned to take market share from Intel (Specifically the server market) and be strong competition in the GPU market
- 7nm is a huge deal
- Intel's only answer is 10nm, which by their account is being delayed.
In all fairness, I already have a short position on AMD as of this write up. Short term I'm bearish on AMD until the correction. However, there is no doubt that long term this company will continue to grow.
Note
Looks like the correction will 25-26... it should hit the trend line this week.
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