AMD - Ominous looking 3D chart
Zoomed out view is starting to show rejection of mid BB, which means price is starting to move away from the median for this timeframe.
Combine that with the ample supply and you have recipe for a disaster.
positives are that price is holding 60 VMA for now. That could change though, as it is barely supporting currently.
Not being a doomsayer, but one must be cautious at these levels. wait for tightening range before going too deep.
Takeaway: I am long with a short leash.
AMD
AMD: You should pay attention to these KEY POINTS!Hello traders and investors! My last analysis on AMD was on April 27, but my previous reading was very accurate, as it respected our key points very well (link to my previous analysis below this post, as usual). Now, we must update a few things.
First, in the 1h chart, AMD reversed the trend, as we expected, and even when the volatility increased, it couldn’t lose the blue line at $ 84.24, which was our most important support level (the daily chart will show it better).
Now it seems AMD is doing a pullback to the previous support level around $ 104, which worked as a resistance two times recently, and now it is working as a support. This is the Principle of Polarity in Technical Analysis. Only if it loses this support we would see AMD dropping more. The next support is the black line at $ 99, which is an interesting point that we’ll talk about later.
For now, all we can assume is that since it is a bull trend, AMD will seek higher levels, even considering it’ll do pullbacks along the way. Remember: Trends persist until a clear reversal occurs (Dow Theory).
Remember the $ 84.24, the most important support? Here we see that AMD did a Double Bottom chart pattern just above this price level. In addition to this, if you zoom out, you’ll realize that this support dates back to July 2021. In order to trigger a long-term bear market on AMD, we must lose this line, and this won’t be easy.
For now, AMD is clearly bullish, doing higher highs/lows, heading to the target I mentioned in ym last analysis, when we were below $ 90: The Gap at $ 118. Meanwhile, pullbacks are acceptable, and would be just opportunities to buy. The 21 ema is a good support level to work with in the daily chart, and coincidence or not, it is at $ 99 right now (remember the black line I mentioned in the 1h chart?).
Let’s keep our eyes open, as AMD is near its key points right now. Maybe it’ll give another buy soon, if it reacts near any of its support levels. What could ruin the bullish bias? If it does a clear reversal sign, and if it loses its 21 ema in the daily chart.
I’ll keep you guys updated, so, remember to follow me to keep in touch with my daily analyses!
AMD shortEthereum going PoS => gpus for mining not needed. Gpus will flood aftermarket from the miners and retail consumers can buy gpus cheap, thus reducing sales. Roughly 20B$ worth of gpus will be unusable which is more than AMDs yearly earnings. Granted AMD does not have 100% market share(NVIDIA). But this should greatly affect their gpus sales late 2022 and early 2023. Also the FED is raising rates and starting to tighten up, which could affect growth stocks and tech negatively if the market becomes risk off. I think this thesis can be applied to NVIDIA as well although AMD gpus are a bit more popular among the miners.
$AMD's Bearish SetupWe recently saw a huge big green candle and then gapped down on Friday. Both of which retested the top of the wedge and failed to get over. That itself lends to bearish sentiment and is a bearish move in the making. While the green candles look bullish, the price action has yet to get back over the top of the wedge and until it does, the price emphasizes a bearish trend, so the bulls will want to get that back above the wedge.
Current position: I am still short on $AMD ($100 Put) and will monitor it to test the bottom of the wedge.
$DBX $LIT $AMD $SLB I OptionsSwing WatchlistDBX 1D I DBX is breaking out from a possible bull flag on the daily after rumors that it was approached a month ago in attempts to be acquired by another company.
LIT 1D I Energy stocks and lithium stocks in general have been overperforming the market for the past two weeks. Watching for a breakout from this downtrend.
AMD 1D I AMD is forming a possible bear flag on the daily time frame. We have resistance near $110 and support close to $106. AMD is breaking out from a downtrend.
SLB 1D I SLB has been holding $46. Energy stocks keep on outperforming the market, and I've seen bullish trades on some energy stocks like SLB MRO among others.
DeGRAM | AMD stonks analysisAMD is approaching the resistance zone $114 - $115.
This zone acted as both support and resistance before.
Price action tends to move sideways around a significant level. Looking left.
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All eyes on $AMZN for split?$AMZN drops significantly after missing the ER a few weeks ago and it gets worse with the market pulling back, taking the amazon down below the 100MA. based on technical indicators; Amazon is in the oversold position and its almost safe to say its a buying opportunity for everyone. especially with the upcoming split in few days. the split will probably draw some attention to investors causing the stock to squeeze to push up. The squeeze to push even higher for the high of the day could be significant as the market attempts to bounce back after 5 days in a row being green, which might have created a bullish sentiment. now, in my bearish opinion based on technical indicators. AMZN is still looking bearish. the stock currently trending below the 100MA, indicating that the stock is still below the bullish side and might take a while to bounce above the bullish momentum. With that being said. here's my possible entry for momentum play or scalp play.
For scalp or day trade moves.
For calls; buy above 2320.46 and sell at 2380.46 or above
For puts, buy below 2291.82 and sell at 2274.46 or below
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if you swing calls, your next target is 2444.41
if you swing puts your next sell target is.. 2243.0
Welcome to this free technical analysis . ( mostly momentum play )
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AMD Double BottomingI believe AMD is showing positive signs of strength. AMD has taken a beating with the rest of the market and has come down to a major support level at about $86. It has tested this level twice and bounced away from it forming a signature "W" pattern. Should the pattern play out, the projected target is twice the length of the middle hump. The level is calculated to be about 115 for nice round numbers. That level also happens to be home to the 100SMA and another downtrend resistance. Looks like a nice target to me. I also see strong volume suggesting accumulation could be occurring.
Beware the pesky 50 SMA trying to ruin all the fun. The price has rejected this average several times already. If it rejects this time, the pattern would be more likely to fail and resume the downtrend. NOW OR NEVER, AMD!
AMD following Falling Wedge PatternAMD on the daily chart and weekly chart showing a falling wedge pattern. It is also resisting the trendline. It needs to break out of the pattern with high volume is currently missing.
On the fib time cycle, it is in the third phase cycle and will take another month to break the pattern. On unconventional rsi it is resisting and going down it is suitable for shorting now up to 70 odd levels.
Then wait for a swing low around $70 - $75 for entry for a minimum risk to reward ratio. after breaking the pattern it may go up to the $150 level.
Watch out closely.
Cheers and Happy Trading..!!
#Keepitsimple #Tradeeasy
AMD A Great Buying OpportunityTrade Proposal:
There is a probability of first tp to the proposed ( 125 ) Direction line. So, Traders can set orders based on Price Action and expect to reach short-term goals.
Technical analysis: AMD Waiting for the Range Bound and the beginning of the Ascension Trend.
AMD:Bear market rally or turnaround?Advanced Micro Devices
Short Term - We look to Buy at 95.03 (stop at 83.57)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. The trend of higher lows is located at 90.43. This is positive for sentiment and the uptrend has potential to return. We look to buy dips. Further upside is expected.
Our profit targets will be 125.60 and 133.11
Resistance: 125.60 / 140.00 / 157.50
Support: 93.50 / 84.00 / 72.30
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AMD daytrade ideaDespite market weakness, AMD has been holding and battling the psychological $100 level.
Also, I can see that a possible symmetrical triangle (a little wonky) black lines.
My plan into tomorrow is watching the direction of this move.
Upside scenario: Above $93.83 would long it targeting $96 and above that $100
Downside scenario: I would wait to see if price will break the bottom of the triangle, if it does i will enter short below the break and target $90 and $88.70
There is no need to have a bias in this market, just play what the day brings.
Good luck.
AMD Break Out (Short Term)As we see AMD breaking out a major resistance within the rising wedge, we could expect it to keep rising and hitting resistance around the circled area on the resistance trend line of the rising wedge. On the RSI, it also shows AMD has been continuing on a uptrend channel thus showing it has already hit support and its ready to move upwards.
STEP 3) WAIT to see Price RETEST of HTF''s POI on Counter-Trend It is an established fact that price usually makes a RETEST to the protected Demand or Supply zone regarded as Institutional Order Flow (IOF).
So it is critical for every price action trader to WAIT for a Return to Order (RTO) . But this doesn't mean that price must hit the POI at all times.
They are others factors that may like to cause price reaction off the Demand or Supply zone. These factors include: Imbalance, Hidden Base,
Inducements, e.t.c.
BULLISH signal for Risk Assets! BTC/USD Rally AheadBackground
So far this year we’ve seen a tremendous amount of volatility across literally all financial markets as a result of the tightening of monetary policy conditions by the largest and most influential central bank in the world – the Federal Reserve . The equity markets together with other risk assets like crypto have been in the cross-hairs ever since the Fed changed its overall stance and monetary policy plan back in early November, 2021. In the post FOMC meeting press conference on Nov. 3, 2021, the Federal Reserve Chair Jerome Powell indicated for the first time that the FOMC "will start to reduce the pace of asset purchases," in a process called tapering. Up until that point the Fed had been purchasing $80 billion in U.S. Treasury securities and $40 billion in U.S. agency securities each month. Powell stated that, starting in December 2021, these monthly asset purchases initially will be reduced by $10 billion for Treasury securities and $5 billion for agency securities. He then further emphasized that the central bank’s goal was to fully complete the tapering process by March, 2022, so that they could start raising interest rates after that.
Not surprisingly at all as a result of the hawkish stance of the Federal Reserve and the future of tighter monetary policy conditions ahead, investors started to abandon the previously loved high-growth tech stocks that were trading at extremely stretched valuations at that time. The so-called “multiple compression” process began at the end of last year and has continued to be the center theme in the market to this day. The concept is rather straightforward and we’ve written about it before – when monetary policy conditions tighten, credit becomes less available and more expensive, which makes it more difficult for these high-growth companies to continue to invest and grow at the same rate. This slows down their revenue and EPS growth numbers, and investors become less willing to pay that same premium as before for these stocks. As a result, a major repricing of this more speculative part of the market then begins and investors start looking and shifting their capital into more defensive, stable and dividend paying companies.
However, as we all know people tend to overcommit to various trends and narratives out there, which very often leads to the overextension of both bull and bear markets. Currently, investors are pricing 11 more interest rate hikes by the Federal reserve , which in our opinion is simply not realistic. We believe that as Economic data starts to deteriorate in the US with the ISM Manufacturing Index showing early signs of that already, the FED will make a dovish pivot signaling that the economy no longer needs 11 more rate hikes as it is not as strong as they had initially anticipated. This will inevitably lead to a major stock market rally which will be predominantly led by Technology stocks. The crypto market as a whole will also find its footing and make a move back up to its prior highs.
Why is that important you might ask?
Well, as much as crypto lovers, proponents and supporters have been trying to portrait Crypto and Bitcoin in particular as a completely separate, non-correlated, inflation-hedge asset class, this is simply not true. It is for sure an incredibly fast growing asset class, which undoubtedly will continue to play a major role in the way we communicate, transact and store value in the future. However, the reality is that the crypto market is still treated by institutional investors and money managers, which are indeed the people who move the markets, as a rather speculative risk-asset. This could be clearly identified by the strong intermarket positive correlation that we’ve seen between the crypto market and Bitcoin in particular and the Nasdaq 100 ( QQQ ) technology index. Bitcoin has pretty much mirrored the price action of the US tech sector ever since the Fed made that policy change back in November, 2021.
How can we use that to our advantage?
By identifying the presence of a strong positive correlation between Bitcoin and the QQQ index, we should treat that correlation as valid until proven otherwise. Monitoring the two markets simultaneously could allow us to spot potential trading opportunities forming on either one of the two charts and then wait for a confirmation of the trading set-up by the other chart. Taking our intermarket analysis one step further, we could analyze the volatility profile of not only the Nasdaq 100, but also of the S&P 500 and see where the markets could be headed next. As a general rule, when the volatility in equity markets rises, uncertainty rises and investors tend to become more fearful, which usually leads to major equity market declines, which can then translate into weakness in the price of Bitcoin as well.
The Volatility Index ( VIX ) is linked to the S&P 500 and is regularly referred to as the Fear and Greed index of the US equity markets. When the VIX stays at rather elevated levels for extended periods of time this represents the presence of a lot of Fear and Uncertainty among market participants. The technology sector accounts for nearly 30% of the S&P 500 and the Tech stocks are indeed the most volatile stocks out there, thus even though that the most popular volatility measure VIX is not directly linked to the technology index (NASDAQ, Nasdaq 100), it still represents a very accurate measure of the volatility profile of not only the broad market, but also of the QQQ as well. There is a specific volatility index that is linked directly to the NASDAQ 100, VOLQ , but it is less popular and not as relied on as the VIX benchmark.
Our findings
Our most recent research shows that since the beginning of 2022, there have been 3 occasions where the short-term low for the Bitcoin price coincided almost perfectly with the rejection of the VIX from its major multi-year downward sloping resistance line going all the way back to the March 23rd, COVID-19 sell-off. On all 3 occasions, this major rejection of the VIX from this key resistance line, happened right when the price of Bitcoin was laying around a critical support level . The combination of these intermarket signals produced a 30% rally in the price of Bitcoin in the following 2-4 week period in all three instances.
Here are the numbers:
Example 1 - January – February
Top for the VIX – Date: January 24th, 2022
Price of BTC /USD as of January 24th, 2022 = $35,000
Price of BTC /USD as of February 10th, 2022 = $45,000!
Example 2 – February – March 2022
Top for the VIX – Date: February 24th, 2022
Price of BTC /USD as of February 24th, 2022 = $37,000
Price of BTC /USD as of March 2nd, 2022 = $45,000!
Example 3 – March – April
Top for the VIX – Date: March 8th
Price of BTC /USD as of March 8th, 2022 = $37,500
Price of BTC /USD as of March 30th, 2022 = $47,500
The current picture
We saw two major daily rejections on of the VIX from the very same downward sloping trendline resistance that took place on May 2nd and May 10th respectively. This has coincided once again with the price of Bitcoin sitting at a critical support zone around the $30,000 level. In addition to that we’ve seen positive price action for BTC with higher highs and higher lows on the lower time frames, which is also an indication for the presence of bullish interest at these levels.
We believe that as we see the VIX retreating from these current elevated levels that a strong 30% move up could materialize in the next 2-4 weeks. Our price target for this up move will be the $38,000 level.