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Advance Micro Devices (AMD) to reach 70 by November 22I'm going out on a limb again, only because it motivates me to stretch the limits of my analytical skills. As I was perusing my watch list last week, I noticed that AMD seems to have reached a support level of 56. I've zoomed out on the daily chart to show you the huge downtrend AMD has been following for the past 12 months. If the price continues to oscillate downwards in this slowly narrowing channel, it stands to reason that the price should rally to 70-73 by the end of November as it tests the previous support level that has now become the new potential resistance level of 73.67. It could even reach 78 if it continues to touch the top trend line. It's not obvious while zoomed out so far on the daily chart, but the intraday price moves taking place with AMD are insane. I bought AMD on October 28 pre-market, with the expectation that the price would rally, but I didn't know it was going to rocket straight up for a 1:6 risk-reward ratio. This is the advantage of pre-market trading. It's easier to board the rocket when it's on the launch pad than it is when it's lifting off. Disclaimer: I am not a financial advisor, and the above statements are not investment advice. My comments are only intended for educational purposes. You are solely responsible for your own trading decisions.
NASDAQ:AMDLong
by cdnbuzzard
AMD: Around a CRITICAL support area!• AMD is trading at a critical support level today, as we just hit the 38.2% Fibonacci’s Retracement + Red Line at $70.16 (previous bottom); • In addition, AMD lost the 21 ema, therefore, in order to avoid a bearish continuation sentiment, it must react as soon as possible above this key support; • If a bullish reaction materializes (there’s none so far), it would seek the next resistance around $79 again, possibly breaking it; • On the other hand, if it loses the critical support, the next target would be around $63 - $64 – The 61.8% retracement + Gap; • Usually, when AMD respects the first retracement but loses it in sequence, it ignores the 50% and seeks the 61.8% in one single movement; • Regardless of what happens, AMD looks quite good, as it has plenty upside/downside left. I’ll keep you posted on this. Remember to follow me to keep in touch with my daily analyses!
NASDAQ:AMD
by Nathan_The_Finance_Hydra
1
AMD in a bear flag.Advanced Micro Devices - 30d expiry - We look to Sell a break of 55.48 (stop at 59.11) Price action is forming a bearish flag which has a bias to break to the downside. A break of the recent low at 57.17 should result in a further move lower. Daily signals are bearish. There is no clear indication that the downward move is coming to an end. Our overall sentiment remains bearish looking for lower levels. Our profit targets will be 46.46 and 43.46 Resistance: 64.00 / 69.00 / 78.00 Support: 57.20 / 54.60 / 50.00 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis , as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NASDAQ:AMDShort
by Saxo
1
NVDA, AMD Bottom FormationsNVDA continues to work on its bottom. The Reversal Candlestick in October signaled the end of this stock's correction. The stock has plenty of growth for the future. The red line is the bottom completion level for this chart, a strong resistance level. There's strong point gain potential when the current sideways action breaks out upward. Volume-based indicators are showing slow but steady hidden accumulation. If the current sideways action breaks down, support from the buy zone is quite close. --- AMD is waffling around the U-Shaped Bottom's completion level, which is usually a quick short-term bottom. Once it can sustain within the prior trading range, it can start to develop a range that can then compress and break out. So, it has a couple of areas to work on. Meanwhile, it has sufficient past swing-style runs to be considered for a swing trading watchlist when the short-term bottom completes. If it breaks down to retest the bottom lows, beware of the support at the buy zone.
NASDAQ:NVDA
by MarthaStokesCMT-TechniTrader
AMD in a triangle.Advanced Micro Devices - Intraday - We look to Buy a break of 79.22 (stop at 74.41) Short term momentum is bullish. Price continues to trade within the triangle formation. The bias is to break to the upside. 79.15 has been pivotal. A break of the recent high at 79.15 should result in a further move higher. Our profit targets will be 91.48 and 93.48 Resistance: 77.00 / 79.20 / 81.00 Support: 72.50 / 70.00 / 68.50 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis , as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NASDAQ:AMDLong
by Saxo
Advanced Micro Devices Analysis 27.11.2022Hello Traders, welcome to this free and educational analysis. I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities. If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below. I will personally reply to every single comment! If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button and maybe consider following my channel. Thank you for watching and I will see you tomorrow!
NASDAQ:AMD
by basictradingtv
NVDA STOCK BEGINS MAJOR DRAWDOWN - ELLIOTT WAVE SCIENCEThroughout the past 2 decades (22 years), NVIDIA has made impressive runs, increasing its share value by 822% over that timeframe. With 5 overlapping and continually extending waves being complete, the beginning of the 3 wave breakdown is already underway. From November 2021 until October 2022, this major market player experienced a 69% ($242) drawdown for what will likely prove to be Wave A of the 3 wave correction (3 wave corrections are labeled as ABC in Elliott Wave Science). With A wave trending downwards, we can expect B wave to go against the direction of A wave, usually by 38-79% (in the form of another smaller, 3 wave move). This B wave corrective move is in motion at this very moment. (Knowing that B wave is a 3 swing move), considering the strength of its first (A) wave, it seems unlikely that a 38% retracement will satisfy the need for this form. Buyers are still adamant that the stock can see a higher price in the months ahead. The true test of this sentiment may come near $221 or $272. Should the bulls fail to ascend above $221 and/or $272 and convert it into a supportive zone, price action suggests that the share value of this company will plummet. Within a 3 wave correction, specifically a 5-3-5 zig-zag type wave, we can expect the length of Wave's A and C to lean towards equality, its also fairly common for C wave to become slightly longer the length of Wave (by 1.618%). The main catalyst for NVDIA's market structure (being the 5 wave overlapping diagonal move seen in orange) suggests that its highly common for the correctional move/retracement to return down to the 0.618 fib level. The fibonacci tool shows that this level would equate to roughly $5.06. The timing of Wave A within Wave 2 took approximately 11 months. We can expect a similar timeframe or slightly longer for the completion of Wave C. Wave C should be at least $242 in length but indications are that it will likely be longer. There is good chance that NVDA drops below $10/share before/during the 2025 calendar year. This timing depends on how long the B wave correction takes to reach the final upside battle-zone.
NASDAQ:NVDAShort
by DigitalSurfTrading
AMD: A TOP sign under a MAJOR RESISTANCE! What if it corrects?• AMD is stabilizing in a resistance area, as seen in the weekly chart; • However, the trend is still bullish, as AMD is still doing higher highs/lows; • From the previous top to the previous bottom at $70.16, AMD corrected nearly $10; • It is important to notice that the $70.16 (red line) is very close to the 1st retracement at 38.2%; • If AMD loses the 38.2%, frustrating the bullish reaction seen yesterday, then the momentum would be strong enough to drag it to the 61.8% near $64; • This would reinforce the top sign seen in the weekly chart; • For now, let’s pay attention to the $70.16, as this is the most critical point on AMD for now, in my view. I’ll keep you updated on this, as usual. Remember to follow me to keep in touch with my analyses!
NASDAQ:AMD
by Nathan_The_Finance_Hydra
Log Chart Paints Bleak Picture for NVDAPrimary Chart: Daily Chart on Log Scale with Down Trendlines, VWAPs, and Key Price and Fibonacci Levels Some may be feeling a bit giddy over the fact that NVDA has rallied 28% off the lows. But look at those other bear rallies since the all-time highs shown on the Primary Chart. How do we know this time will be different? Expecting it to be different before a dramatic shift in the macro environment, or before a serious change in trend structure, is like hoping a lottery ticket will somehow beat the astronomical odds against it. This post is not asserting that traders can't make money on a bear rally. Countertrend trades, though lower probability trades that remain very tricky, can be a profitable part of a traders approach. For traders willing to see both the bearish and bullish side of markets this year, some of the bear rallies could have been exceedingly profitable even if only a portion of those rallies was caught by the trade. A logarithmic chart of this former stock market leader NVDA reveals an even bleaker picture than the linear chart. A linear chart shows that NVDA is contending with some limited degree of success with a shorter-term down TL from March 29, 2022 through the mid-August 2022 highs.That has some validity and can be watched as well going forward. But given the sheer magnitude of the decline this year, it's worth paying heeding the log version (shown on the Primary Chart) as well. The log version shows the shorter down TL being some distance above where price is currently trading, meaning that NVDA has a fair amount more work to even start to *begin* to change its trend structure. For comparison, here is the linear chart with the shorter of the two major down TLs shown: Supplementary Chart A: Down TL from March 29, 2022 Sure, NVDA is rallying nicely off the YTD lows from mid-October 2022. And that rally should continue to be respected until it's confirmed to be complete. A good way to gauge the rally off the lows is to use an upward trendline—here a parallel channel is used, and the lower boundary of the channel is the upward trendline off the lows. Consider the following "zoomed-in" version of the chart using an intraday 130m price bar: Supplementary Chart B: Parallel Channel from October 2022 Low For now, price is well contained within that channel. Shorting does not make sense until good confirmation arises that this bear rally is finished. The VWAP anchored to YTD lows (orange) also may work as a guide for the short-term bear rally. It is prudent not to fight the rally until it's weakened or has reached a major resistance level and shown signs of weakening momentum or negative divergences. SquishTrade will be continuing to monitor both NVDA and AMD for potential shorts should this rally gather a bit more steam. A key tell is that semiconductors have decisively undercut YTD lows in June, which creates a bearish pattern generally speaking. What are some logical price targets for this rally? Before discussing targets, a bit of a disclaimer. Countertrend targets can be a little silly to discuss—a countertrend rally can fail at any time, so picking a price target is a bit like tossing a dart with one's eyes closed. But given the parallel channel and VWAP remain supportive of the rally so far, NVDA could continue to climb until it gets squished by the FOMC presser, CPI report, or disappointing earnings. NVDA closed at $135 today, November 1. SquishTrade thinks NVDA has a reasonable probability of reaching $140.55 (the blue line on the Primary Chart that coincides with a major swing low). Only if $140.55 is exceeded, the next price target can come into play—which is $144.36, a key Fibonacci level. After that is the $145-150 gap fill area which will also coincide with the down TL from March 2022 (on a log chart) in the next week or so. Just because these targets make sense does not mean that they should be traded, which depends on a person's risk tolerance, time frame, ability to use stops and manage risk as well as understanding of volatility. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
NASDAQ:NVDA
by SquishTrade
18
AMD ~ Heavy Demand Area AMD, the semiconductor leader, and monstrous Tech Company has taken a very big hit on its stock in the past 12 months. AMD Has issued guidance worries on demand woes and earlier, supply woes. No matter these shorter-term issues that are going on within AMD, and in the Macro-Outlook of the Economy, AMD is attracting and will be attracting many buyers at these much more fair-valued prices. As AMD has continued to fall it has hit a significant Trendline that has acted as strong support for the past year's downtrend. Along with this trendline tap, AMD continues to enter a major demand zone from pre-covid levels. The High $40s to $60 will remain a very demand-heavy spot for AMD as many buyers step in. Long Term buyers and bounce Buyers are anticipating for a bounce off these trendlines, and possibly a bottom near this solid demand zone. AMD's p/e ratio has fallen dramatically to around 20, resigning a fair price to the company's stock rather than the high $100s. Many Buyers will be seeing value at this price. My thesis is that this can be a smart Long-Term Entry for scale-ins on the company's stock. Buying at these demand levels will carry lower risk/reward with AMD reaching fair value, and a huge demand zone. I personally believe years out, this is a perfect acquiring zone to start!
NASDAQ:AMDLong
by ZachSap
4
AMD: Hit a MAJOR RESISTANCE! What's next?• AMD is in a very strong bull trend, since it broke the $62 area, triggering an Ascending Triangle chart pattern; • Now, AMD is in a resistance area, as seen in the weekly chart (blue area); • This resistance area is a key point where AMD found support level multiple times in the past, and now, it is near the 21 ema as well; • If AMD does any weakness sign in this area, it might correct again (there's no clear top sign yet, but one might occur soon); • However, as long as it stays above the $62, the bullish bias would persist, meaning, any pullback would be anoher opportunity to buy, despite any possible short-term pullback in the next few days; • The situation is critical on AMD, so it is very important to keep our eyes open in this area. Remember to follow me to keep in touch with my analyses!
NASDAQ:AMD
by Nathan_The_Finance_Hydra
5
Zooming Way Out on AMD's Chart—$55 Key Level of SupportZooming way out on AMD's chart shows that the vicious 1-year downtrend since the all-time high in November 2021 appears modest on a weekly logarithmic chart. The downtrend has retraced only .236 of AMD's uptrend since the major low on July 27, 2015. This seems like a reasonable spot for AMD to consolidate it's recent sharp decline over the past 10-11 months. It's clear that in the intermediate term, bulls need to hold AMD's price above $54-$55 or else the next major level to the downside comes into play. However, in the longer-term, it does not seem unreasonable to think that AMD could retrace 38.2% of its 7-year uptrend and reach $28.09, or perhaps lower looking out years. This update provides only a brief snapshot of AMD at the secular level of trend. One technical expert whose books guide this author's work says that primary degree of trend covers about nine months to two years on average. So this seven-year chart is definitely the next level of trend higher than the primary degree. Note that this weekly chart with multi-year levels are not intended as short-term or intermediate term forecasts. Instead, they merely provide a multi-year framework in which to view the recent downtrend. Perhaps the $55 level can be watched, however, in the coming weeks, especially with volatility around AMD's earnings next week or the FOMC presser. This level may be retested. If the level is broken in the coming weeks or months, the next major Fibonacci level becomes the target at $28.09. Interestingly, the weekly close last week was just above the golden VWAP from the April 4, 2018, low. If AMD can hold this level, it may bounce a bit more before resuming lower.
NASDAQ:AMD
by SquishTrade
21
AMD to $35-37It's pretty obvious what's happening here. Relatively low volume and overall negative sentiment in the economy; continued rate hikes and poor earnings performance - just imagine what the earnings will be next quarter when the recession really hits people. The canary in the coal mine is the housing market and the historic levels of consumer credit card debt; who's going to have disposable income for electronics other than larger companies? A great deal of AMD's revenue comes from consumer sales; not merely data centers and large corporations. From a chart perspective, $35/37 is where I think we will feel 'max pain' - I think this is the best area to long. It might touch $30 but it's hard to imagine it going much lower - $24-28 is my absolute lowest target but highly unlikely. We're currently in a bearish formation and in an ascending channel which is bearish. The 2nd leg of the drop would take us right down to that $35/37 level, which was the previous resistance before it had its major bull run to $160 - it would be very fitting for it to consolidate there. Also something to consider; a Black Swan event in regards to a Taiwan invasion would send this thing even lower.
NASDAQ:AMDShort
by BigApeManStrong
1
AMD LONG TERM VERY GOODLONG TERM : AMD what I believe will form very strong support at this 58-54 range. If it breaks below it, it may lead to 35 (I highly doubt this). I believe there's more upside than downside on AMD especially on the longer term. I believe this stock will more or less jump up and down between these 73-58.27 ranges. It'll atleast try to attempt 73 at one point in time before it breaks this support. SHORT TERM: I think this can hit 67.11 at least before the next earnings and touch 73.63 Breaking 73.63 not realistic with current market conditions. (Can change) I'm bullish long term on this.
NASDAQ:AMD
by KinCobalt