AMD: Is it the time to BUY the DIP? Let's see...Hello traders and investors! Let’s see how AMD is doing today!
First, in the 1h chart, AMD is in a clear bear trend, but there’s hope it could reverse soon. For the first time since it was trading at $ 125, it is actually breaking the 21 ema, and we do have the beginning of a bullish structure.
The black line at $ 98.38 is the most important resistance for us, as if AMD breaks this point, it might trigger a Rounded Bottom chart pattern. By triggering this pattern, the next targets on AMD will be our gaps (yellow squares). The $ 106 seems to be a strong resistance, but the optimal target would be the $ 118 (last gap).
In the daily chart, we see that AMD is trading at support levels, and any reaction here would be amazing, as the Risk/Reward ratio always favors the bulls when we are near support levels.
What’s more, AMD is far from its 21 ema, so it has some upside potential if it reacts. The only thing that could make AMD turn barish again would be if it loses the $ 92 area, so we must keep our eyes open. We have some possible bullish structures that could justify buying the dip, but to me, we must wait for more confirmation.
It is a delicate situation, but if we pay attention to these key points, we’ll be fine. I’ll keep you guys updated on this, so remember to follow me to not miss any of my daily analyses!
AMD
Semiconductors PullbackAMD Daily Double Bolligerband Algorithm switching to a Sell-Short as the Semiconductors continue to show weakness over the past couple of weeks. This pull back has broke below a triple bottom. The next gap below is down at $78. I do not believe this will fill unless the S&P 500 futures fills the gap at 4000
Semis and Growth Stocks Leadership Up and Down - Look at AMDFor the past week we’ve been saying how the Semiconductors #SOX and NASDAQ-100 #NDX continued to not only trend in the same direction but their expansion between each other was evident of liquidation pressures continuing. These were even more evident as the 50 day moving average and 200 day moving average became dominant components of resistance. Nothing good comes of a stock when it’s unable to maintain the 50 day moving average!
The good news is the major indexes have not finally contracted into that 14,000 range on the #NDX that we’ve been touting on the Futures Market for about 2 weeks now.
Insert the chart here
It started to look as-if the low from April 12th was going to be a potential area for a leg up; however, it’s appearing a lower low could transform this upcoming week. As for right now, the mentioned recent low is holding the line by pennies. If the area breaks we will need to continue monitoring price action until a lower low is established, defended, and confirmed for the next leg upwards.
When we look at #AMD we can see the chart filled with continuous downward gaps and heading to the Demand Zone between 92-89, as pointed out in other postings and videos.
The Economics Thesis is surrounding the shortages of chips, which are in everything these days, thus a contributing factor into the price action throughout 2022. The stock has fallen about 43.50% (~ $72). As much as the news and “what is happening in this space” drives uncertainty and speculation on what's to come - I’m focused on my areas on the charts and within the technical analysis space. News and headlines (noise) is an ambiguous element into the world of trading and psychology. It turns the processors of emotional thinking, which cause tendencies to overthink and act with impulsive behaviors.
In any sense, there could be a turning point at the levels mentioned above. That is not to say we establish “thee low”, but it could generate some relief in attempts to close some upward gaps towards the recent highs of 125.67.
If all else fails, the next levels to watch are 792.0 and 72-80.
AMD at $100Advanced Micro Devices
Short Term - We look to Sell at 102.78 (stop at 111.05)
Preferred trade is to sell into rallies. Previous support at 100.00 now becomes resistance. 20 1day EMA is at 107.00. Short term oscillators have turned negative. Trading close to the psychological 100.00 level.
Our profit targets will be 74.92 and 69.10
Resistance: 100.00 / 125.00 / 155.00
Support: 80.00 / 73.00 / 60.00
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AMD - Long PositionAMD Rallies Support from Reddit Traders
AMD's diehard supporters are sticking with the semiconductor company even as its stock price struggles. Once again the battle lines are being drawn. On one side, we have the traditional Wall Street investment community. On the other, we have the social media crowd who rally around a stock they think is being treated unfairly by old school types.
AMD Tested 38 Year ResistanceSo the question on everyone's mind is, what now? Well, the answer isn't always so simple.
This is a High Time Frame so it takes a long while for things to set into motion. All we can do here is gauge exactly how far this cycle is extended and how far AMD has come.
By any measure from this chart, to say we aren't approaching the end of this cycle would be pretty absurd at this point.
RSI showing Bearish Divergence on HTFs, paired with testing 38-year resistance.
Can it have a bounce and ride another small wave up? Sure, markets can stay irrational. But simply put, it can only run on for so long.
Here is a Lower Time Frame representing the Parabola it has been respecting for almost 4 years now. This breakdown clearly shows weakness as we are heading into the later stage of this cycle. A break of roughly 4-year market structure shouldn't be understated.
A different perspective measuring each wave up and down since 1975. Notice how similar each and every correction is (between 91-96%).
This post is just meant to show some perspective of how far we actually have pumped this cycle; if there was ever any question. Seems like most still are expected huge incredible rallies, and Im not sure to what extent we get that.
For further confirmation, here is my previous post on USOIL/SPX. (Very in-depth and informative analysis)
Hope this helps!
S&P 500 (SPY) LongIt looks like this correction is about over! Many people running away from this market that is when I love to load up and buy more. We have been in this situation with Wave 2, its all apart of Elliott Wave! This 4th wave has retraced deeper due to it being a diagonal. I am looking for a strong reversal tomorrow. I am wanting to see $470 on the SPY.
Advanced Micro Devices (NASDAQ: $AMD) Nearing 100-Day MA! 💻Advanced Micro Devices, Inc. operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles. The company provides processors for desktop and notebook personal computers under the AMD Ryzen, AMD Ryzen PRO, Ryzen Threadripper, Ryzen Threadripper PRO, AMD Athlon, AMD Athlon PRO, AMD FX, AMD A-Series, and AMD PRO A-Series processors brands; discrete GPUs for desktop and notebook PCs under the AMD Radeon graphics, AMD Embedded Radeon graphics brands; and professional graphics products under the AMD Radeon Pro and AMD FirePro graphics brands. It also offers Radeon Instinct, Radeon PRO V-series, and AMD Instinct accelerators for servers; chipsets under the AMD trademark; microprocessors for servers under the AMD EPYC; embedded processor solutions under the AMD Athlon, AMD Geode, AMD Ryzen, AMD EPYC, AMD R-Series, and G-Series processors brands; and customer-specific solutions based on AMD CPU, GPU, and multi-media technologies, as well as semi-custom SoC products. It serves original equipment manufacturers, public cloud service providers, original design manufacturers, system integrators, independent distributors, online retailers, and add-in-board manufacturers through its direct sales force, independent distributors, and sales representatives. The company was incorporated in 1969 and is headquartered in Santa Clara, California.
AMD miscalculated. AMDGoals 101, 92, 81.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
$CCJ $MDU $AMD $CPB I OptionsSwing WatchlistCCJ 1D I CCJ has been showing relative strength as we have ongoing wars with major superpowers involved. And also WSJ news pointing to China's fast nuclear buildup.
MDU 1D I Engages in the provision of natural resources products. Our bots picked up unusual options activity on MDU $30c 07/12! MDU has shown relative strength.
AMD 1D I AMD has been defending the $100 level, and we've seen two bounces near this level recently. With earnings coming we could see a run up into ER if $100 holds.
CPB 1D I CPB is one of the largest processed food companies and it's listed in the S&P 500. The food processing industry has been outperforming the market recently.
Nas100 last week PE breakdown + next week ideaNasdaq Futures last week price action breakdown, plus an idea of what it might do next week..
feel free to comment or ask questions
AMD 100 Level of Interest?AMD has been trading above the 100 level since 29 Jul 21'.
Fell to approximately 100.00 (5 x's). Each time it has bounced from the 100 level.
-Sep 21'/peaked @ 108.62 (27 Sep 21')
-Oct 21'/peaked @164.64 (30 Nov 21')
-Jan 22'/peaked @ 132.89 (09 Feb 22')
-Mar '22/ peaked @ 111.75 (09 Mar '22)
-Mar 22'/peaked @ 125.71 (30 Mar '22)
*Please be aware that 20 Sep 2021 AMD went to 99.64 on the D chart. And it touched 99.64 05 Oct 2021. Two touches at exactly 99.64 is why I am neutral on AMD. With that being said, AMD could flush to the downside if it breaks the 100 level. However, being that it has bounced 5/5 times when at the 100 level, it has potential to move to the upside.
NASDAQ:AMD
*I am not a financial advisor. Therefore, anything said in this post is not financial advice or recommendations. Please do your own research and DD. Last but not least, feel free to comment.