AMD trade setup idea 15-september-2022AMD is in a downward channel since Jan this year. Partly because of the Semiconductor issue.
The current support level is an important level(75-77) for AMD. It has already tested this level twice.
We would have to wait for the price to show us the direction.
If we cross 78.5, we could take a long position with the first target around 83.5 levels.
If it penetrates the support levels of 75, we could take a short position with a mid term target of 60.
Amdshort
$AMD 4HR NEUTRAL SETUP!$AMD is forming a neutral triangle! the bias would be bullish but if price breaks the bottom trendline it can start a formation of a Head & Shoulders pattern and head down to complete a meaured move to TP2, wait for confirmation! Also mixed news is starting to come in bt more bullish than bearish!
$AMD big resistance..$AMD needs to break the big resistance of $104 before it continues its rally back to 106+ no major news so far about the company and its products. Semis dipped after a market shifted its focus to energy stocks. i believe the semis and the tech stocks will continue to pull back, expect more pain until J Powell next meeting. For now, you might want to check out retail stocks and travel stocks.
here's my day trade price target for AMD on FRIDAY 08/12/22.
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For calls; buy above $99.39 and sell at 100.47 or above
For puts, buy below 96.62 and sell at 95.13 or below
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AMD SHORT, BUT BE CAREFUL WITH EARNINGS AMD has now reached the upper trend line in the daily chart of it's current descending channel. However, AMD has earnings coming up August 2nd so I'm not holding puts through earnings. Earnings expected to be announced after market close August 2nd.
Looking at $93 puts 3 weeks out 9/26 puts if we fail to close above resistance.
Doing quick put scalps today and tomorrow then reentering August 3rd with a swing play 3 weeks out. Playing Calls if AMD closes above resistance and puts if it closes below.
AMD current target $80 SHORT AMD should reach $80 where I except a bounce up to $93 if we break below $85. Current play $86 puts for 7/29 selling once $80 target is reached. Once $80 is reached I'm buying $81 calls for 2 weeks out.
Current 15 min formation rising wedge waiting for a bounce off bottom trend line.
AMD and SMH leading the chip chargeThe entire sector is showing the same bullish wolfe wave pattern at the same time that it was reported that Pelosi added 11 million USD in shares of NVDA. There is a daily wolfe wave setup that triggered on July 5 closing day at 75.20. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. The projected target is 118 which is expected to reach this price target before Sept 30 assuming NQ wolfe wave time forecast. Projected targets are defined by identifying the apex of the wolfe wave and projecting a vertical line toward the green perforated projection tgt which is extending from left to right. However, the wolfe wave daily setup for AMD does not have an apex associated with it so the projection of targets should be used with caution.
MU daily wolfe wave SMHThere is a daily wolfe wave setup that triggered on July 1 closing day at 53.65. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. The projected target is 84.69 which is expected to reach this price target before Sept 22. Projected targets are defined by identifying the apex of the wolfe wave and projecting a vertical line toward the green perforated projection tgt which is extending from left to right. Using the customizable gap finder indicator there are sets of gaps along the way toward 84.69.
AMD shortEthereum going PoS => gpus for mining not needed. Gpus will flood aftermarket from the miners and retail consumers can buy gpus cheap, thus reducing sales. Roughly 20B$ 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.
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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Comparing AMD and TeslaBoth charts can be observed to have an upward trend (green)
Before recent movement upwards price dipped in both cases below this green line (in orange)
Both share choppy price action for a very long time, which is followed by a large breakout
Biggest chart difference is the timeframes, AMD is 3M, while Tesla in Monthly
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??
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.
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: Buy Zone is 112-115AMD so far has completed 3 waves within this larger degree W-3, within an even larger degree W-1. Now, the uptrend is becoming exhausted, and the stock needs time to rest. Personally, I have sold covered calls against my AMD position to preserve some of the gains I've made over the last few weeks. I will be interested in adding to my position in the 112-115 level. However, after AMD reaches that level, it should go to about 140, then back down to today's levels, so there will be plenty of opportunity to add to your position over the coming 2 weeks or so. Ultimately, I believe this stock will reach $300+ by the end of the year, and it is my top chart for 2021.