$SPY Analysis, Key Levels, & Targets… $SPY Analysis, Key Levels, & Targets…
I am definitely still bullish, y’all… The last three days I’ve played daily calls and won and that is not indicator of anything because you can play both sides most of the time… but I am bullish…
We’re at the bottom of the channel… Yes, lots of funds blew up last week, but then there’s a lot of people that have been mostly in cash since jan (ME) that are itching to play again (outside of just the daily day trade scalping)…
There’s a lot of deals out there right now and I think that we will see a little bit of green in the next week or so. I’m sure the bottom’s not in but money is shifting around and some names you won’t be able to see this low again….
What stocks are you guys thinking about possibly nibbling on??
I bought NIO and RIVN, TQQQ, and AMD this week… definitely looking for others that have taken a beating lately….
Good luck y’all and as always let me know what you think, and sorry if I’m slow to respond sometimes…
AMD
AMD Bullish outperform on the Horizon? Higher Actual Earnings?!?AMD has a History of outperforming Earnings Estimates. I believe this provides Stark Fundamentals, in order to support the TA Case for a reversal to the upside:
> Q1 2021 18% higher than expected
> Q2 2021 16% higher than expected
> Q3 2021 9% higher than expected
> Q4 2021 21% higher than expected
With the above earnings in mind. The last 4 Quarterly reports provided an average of 16% out performance for Actual over Estimated earnings.
I have become very Bullish on the Fundamentals of AMD. A company in which, I and other already consider to have stronger Financials that Nvidia. (Also bullish on NVIDIA - just more for AMD)
Even with the "Ukrainian Heroic Freedom War" effect on the companies earnings, I would expect a slight out performance to repeat.
>>I have all the earnings dates laid out with the Vertical lines<<
Technical Analysis
I believe that the Green Horizontal line, which has been substantial resistance, support, resistance and now Support. Will be the foundation for a reversal to the upside. The Tech Sector, more particularly AMD, is at one if not the most Oversold level(s) in the companies History. One must only look at the distance from the Moving Averages to see this. My Quantitative models have highlighted this as one the three most attractive equities at present on My Radar.
>>Alongside Riot Blockchain and Netflix<<
In my opinion, AMD is the most attractive from a combined Fundamentals and Technical Analysis Evaluation.
Having DCA over yesterday and today into AMD. I believe a significant short to mid term rally to the $130 range is possible.
> Supported by a bounce from the general market being oversold.
> Tax season selling finished.
> Rate hike news already over priced in the market. (Strong belief that most (not all) of the rate hikes are being used as a stick waved to slow the market and economy. Rather than a tool that will be used to brutally beat the economy into recession)
> AMD being significantly more oversold than the greater market.
> Long term pricing models, factoring earnings and industry growth would suggest a significantly higher price in the coming weeks/months.
>>Finally, don't lever up and keep some dry powder always<<
>>Keep the Long term in mind Chaps<<
This is my own opinions, analysis and a trade I am currently undertaking in my portfolios. This is not Financial advice purely my own Analysis and Research.
Will be sharing the TA modelled charts over the coming Days for those interested.
$AMD Update$AMD Update
So my buy order filled at 84.45… So I’m looking for 102.84 for 21.78% OR 66.06 to double my position….
There is a gap that was opened in July of 2020… that I also might add in….
Best of luck and have fun, y’all…
—-
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
AMD - Long PositionAdvanced Micro Devices has strengthened its position in the semiconductor market on the back of its evolution as an enterprise-focus company from a pure-bred consumer-PC chip provider. AMD has emerged as a strong challenger to NVIDIA’s dominance in the graphic processing unit or GPU market based on its Radeon technology.
AMD Short Call - A head and shoulder pattern AMD was forming a head and shoulder pattern which is started when it broke the resistance of $98 in Jun 2021 and till Apr 2022 it completed its pattern and it broke down made a low of $84 and again it retests its level of $98-$99 of resistance and came down. To become strong sell the rsi show close below 40 levels currently, it is at 41 levels. Sell below $90 levels Sl is $101 and the target is $74 - $60 and the final target is $36 levels. The time horizon is medium-term.
Fundamentally the company has reported good numbers and being in the semiconductor industry it has demand still intact. But the chart is saying there is a lot of pain ahead.
Overall the market sentiment is negative. So it can be under a lot of pressure.
What are your thoughts guys??
AMD possible retestFundamentals:
AMD has some bullish news about their new GPU refresh lineup, so I decided to see if the chart matches. On top of that, their quarterly earnings report was very impressive to me.
Technicals
We have strong bullish divergence forming that I believe will take us to the trendline, if not higher. That is where I will take some profits and see if we can make a higher high after that to let the rest ride. It's also looking good from a liquidation screener standpoint, which I will post as an update.
Entry: 95
Target 1: 105-110
AMD - Has Correction Completed? AMD might be a challenger or a leader in some specific areas compared to the competitors like Intel and NVIDIA.
But there is no doubt that it is one of few leaders in a semiconductor industry as a whole and it's here to stay.
The question is - is time to buy the dip having a discount at nearly 50% from the historic high?
Fundamental indicators:
Revenue and Profits - consistent growth for the past 10 years
Profit margin - the company is becoming more effective with a respectful 25% in 2021
P/E - although still overpriced with 54x ratio it has considerable reduced from circa 200 since 2019
Liabilities - no problems with debt
Technical Analysis (Elliott Waves):
According to the proposed scenario since the point when the current correction has started we have observed a circa 50% correction to wave 3
The rapid drop tells us that it is most likely to be an ABC pattern
Wave A of this zigzag was an impulse, wave B formed as a running flat and the current choppy movement resembles an Ending Diagonal where waves 1-3 have already completed
Wave 4 can be expected to be quite deep to wave 3 in the region of $116 and then to be followed by the final 5th wave drop to circa $80 to complete the whole corrective wave and start the new growth cycle
Given the deficits in the semiconductor industry which is currently the main source for the expansion of world digital economies do you think AMD is soon to start the new bull run?
What do you think about this idea?
Please share your thoughts in the comments and like this idea if you would like to see more stocks analysed using Elliott Waves.
Thanks
$AAPL $AMD $SPY $QQQ I OptionsSwing WatchlistAAPL 1W I Last week we got a new low on AAPL. It is barely holding the uptrend on the monthly chart. Bearish below $150, bullish as long as the uptrend is held.
AMD 1M I AMD is attempting to reclaim $100. The semiconductor industry is in a bear market, and unless AMD breaks from the downtrend we'll see more downside.
QQQ 1D I QQQ managed to print a new low last week and closed down below $320. Below $315 QQQ looks bearish above it looks bullish. Overall the trend remains bearish.
SPY 1D I We are seeing a double bottom on SPY near $405. Above $415 SPY looks bullish, below it looks bearish. Overall trend remains bearish.
Short $AMD CMP $104.05Short $AMD CMP $104.05. This one tried to bounce off of 200 SMA but failed. Today's big red candle is very big bearish sign that it will continue the downtrend. 20 and 50 SMA are nose diving on this one. It may hold $100 area but I am more inclined towards $90-$95 area support levels are more appropriate levels.
Short Target 1 is $100 area. Short Target 2 is $90-$95 area.
5/4/22 AMD Advanced Micro Devices ( NASDAQ:AMD )
Sector: Electronic Technology (Semiconductors)
Market Capitalization: 161.076B
Current Price: $99.42
Breakout price: $100.00
Buy Zone (Top/Bottom Range): $97.85-$84.75
Price Target: $113.80-$117.60 (1st), $138.30-$141.40 (2nd)
Estimated Duration to Target: 20-21d (1st), 38-40d (2nd)
Contract of Interest: $AMD 5/20/22 100c, $AMD 6/17/22 110c
Trade price as of publish date: $4.41/contract, $3.45/contract
AMD monster $100 levelIt is showtime for AMD.
The so strong $100 psychological level.
Not only it offered many times a good support and bounce, other times it offered a strong rejection/resistance.
Now price is back at it.
All it needs is another strong day in the indices and we might see a push above it towards 106 / 110
AMD earnings beat | Strong Buy Rating AMD entered the Buy area on oversold level predicted here:
AMD Q1 2022 Earnings:
EPS $1.13 vs $0.91 expected
Revenue $5.9B vs $5.2B expected
On 4/25/2022 Raymond James Upgraded AMD from Outperform to Strong-Buy setting a price target of $160.00
I think a reversal to $102 is most likely.
Looking forward to read your opinion about it.
AMD Reports: Planning for Each ScenarioAMD reports after the close today and is expected to have strong revenues over last quarter. The chart patterns suggest some Pro Traders setting up ahead of the report.
The question is how far can it rise on the retail reaction to the report? Where are the sellers? See the red lines. 124 is the strongest resistance for the short-term trend, but there are potential stalling levels on the way up as well.
Earnings reactions can be a very short-lived event, so prepare to take profits when the pro traders do. They trade against retail.