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Technical Analysis on AMD (Advanced Micro Devices)Analyzing the historical performance of AMD , a key turning point is evident that marked the beginning of the current bullish phase—starting at the end of 2015. During this period, the stock held an important support level, followed by a decisive breakout of the bearish trendline. On a daily timeframe, this breakout was accompanied by a gap up, known as a breakaway gap. During the upward phase, the stock experienced pullbacks ranging from 40% to 60%. The most recent pullback, which began with a Shooting Star candle, was 45% and stopped precisely at a crucial Fibonacci level of 0.618. Bullish Scenario: To confirm a continuation of the bullish trend, AMD must first surpass the $160 area and then the $190 area, a range characterized by significant volumes. Bearish Scenario: If the stock fails to exceed these two levels, it could continue its retracement by breaking the ascending trendline. Two potential entry levels can be found in the POC area around $180 and the support area around $95.
NASDAQ:AMD
by Giovanni_Bandini
AMD 8/30/2024Chart Overview: Time Frame: 1-hour chart Indicators: Trendlines, price levels, RSI (Relative Strength Index) Key Levels: Resistance Levels: 151.90: This level is a strong resistance that AMD needs to break through to continue an upward move. 149.47: A lower resistance level, which could act as a hurdle before reaching the 151.90 resistance. Support Levels: 137.88: This is the first significant support level, which may act as a bounce zone if the price declines. 132.44: A secondary support level, indicating a strong base. 127.10: The lowest support level visible on the chart, which would be a critical area if the price falls dramatically. Trendlines: Descending Trendline: There is a downward sloping trendline from the recent highs, indicating that the stock is in a short-term downtrend. The price is currently testing this trendline, which could signal a potential breakout or further rejection. Ascending Trendline: Another trendline is drawn from the recent lows, suggesting a potential wedge or triangle formation. This indicates consolidation and potential for a breakout. Key Order Blocks: Red Order Block (Supply Zone): Location: The red zone is around 151.90 - 145.00. Significance: This area represents a strong resistance level where significant selling pressure occurred previously. When the price enters this zone, it might face resistance as sellers look to push the price back down. The concentration of sell orders in this area could lead to a reversal or slowdown in upward momentum. Scenario: If the price breaks into this order block, especially above 149.47, it might struggle to continue upwards as it encounters selling pressure. However, if it manages to break above the red order block (especially above 151.90), this could signal a strong bullish breakout. Green Order Block (Demand Zone): Location: The green zone is around 137.88 - 132.44. Significance: This is a demand zone where significant buying pressure previously existed. When the price drops into this area, it is likely to find support as buyers step in, potentially pushing the price back up. This zone acts as a floor, preventing further declines unless broken decisively. Scenario: If the price retraces and enters this green order block, you might expect some buying interest, leading to a bounce. However, if the price breaks below this area, it could indicate a further bearish trend, targeting the next support level around 127.10. Strategy with Order Blocks: For Bulls: Entry Point: If the price pulls back into the green order block and shows signs of support (like a bullish candlestick pattern or a bounce), consider entering a long position. Target the red order block as your next resistance level. Breakout Strategy: If the price breaks above the red order block (especially above 151.90), it could signal a strong move upwards. This breakout could be an opportunity to add to a long position or enter a new one. For Bears: Entry Point: If the price enters the red order block and shows signs of resistance (like a bearish candlestick pattern or rejection), consider entering a short position. Target the green order block as your first support level. Breakdown Strategy: If the price breaks below the green order block (especially below 132.44), it could indicate a further decline, with the next target around 127.10. RSI Analysis: The RSI is near the middle, not showing any extremes, but it may be slightly oversold given the downward momentum. This neutral RSI means the price could swing in either direction depending on how it interacts with key levels and trendlines. Possible Scenarios: Bullish Scenario: If AMD breaks above the descending trendline and then surpasses the resistance at 149.47, it could attempt to reach the next resistance at 151.90. A breakout above this level would be a strong bullish signal. A move above 151.90 could lead to a continuation towards higher levels, with potential to reach the 160.00 zone. Bearish Scenario: If the price gets rejected at the current trendline and fails to break 149.47, it may retrace towards the support at 137.88. A break below 137.88 could accelerate the downward move towards the next support at 132.44, and potentially to 127.10 in a more bearish scenario. Volume Analysis: Volume: The volume seems to be lower during the recent consolidation, which is typical before a potential breakout. A surge in volume on a breakout would confirm the direction. Strategy: For Bulls: Look for a breakout above the descending trendline and resistance at 149.47. If confirmed with volume, consider entering a long position with a target near 151.90 or higher. A stop loss below the ascending trendline might be prudent. For Bears: If the price fails to break above 149.47 and shows rejection, consider shorting with a target near 137.88. A break below this level could lead to further downside, targeting 132.44 or 127.10. This setup requires close monitoring, especially around the key levels and trendlines, to determine the most likely direction.
NASDAQ:AMD
by BullBearInsights
1
Technical Analysis for AMD 8/29/2024Current Market Context: Price Movement: AMD is currently trading downward, with the price breaking below key support levels. This decline is likely a result of broader market sentiment following NVDA's earnings report, which has impacted tech stocks, especially those related to semiconductors. Volume: The trading volume has increased as the price dropped, indicating strong selling pressure. This is often a sign that the downtrend may continue until a significant support level is reached or the market sentiment changes. Key Levels to Watch: Support Levels: $138.11 - $137.85: The immediate support zone is around $138, where the price has tested multiple times on the hourly chart. A bounce from this level could occur if buyers step in. $127.10: This is a critical support level from previous trading sessions. If the price breaks below $138, this is the next level to watch. Resistance Levels: $140.93 - $144.00: If the price bounces from the $138 support zone, expect resistance around $141-$144. The price needs to break above this range to indicate a potential reversal. $148.32: A break above $144 could lead to a test of this resistance, which coincides with the previous high before the recent downtrend. Indicators and Patterns: Stochastic Oscillator: The Stochastic RSI at the bottom of the chart shows that AMD is currently in oversold territory. This could indicate a potential bounce, especially if the support at $138 holds. Downtrend Channel: The price is moving within a downward-sloping channel. As long as the price stays within this channel, the bearish trend remains intact. Forecast for Tomorrow: Bearish Scenario: If AMD breaks below the $138 support, the next significant level is $127.10. With the increased volume on the downside, this could be a likely scenario unless market sentiment shifts positively. Bullish Scenario: A bounce from the $138-$137.85 support zone could push the price back towards $144 or even $148.32 if buyers regain control. However, given the current momentum, this scenario seems less likely unless there is a catalyst to change the market sentiment. Trading Suggestions: For Short Positions: Entry: Consider entering a short position if AMD breaks below $137.85 with a target near $127.10. Stop Loss: Place a stop loss around $140.93 to protect against a potential reversal. For Long Positions: Entry: Look for a bounce around the $138-$137.85 support level. If the price action shows signs of reversal (e.g., bullish candlestick patterns or increasing volume on the upside), consider going long. Exit: Target the $144 resistance level for a quick exit. If the price breaks above $144, consider holding until $148.32. Overall Market Sentiment: Given the current market conditions, a bearish outlook seems more probable for AMD unless a reversal pattern emerges near key support levels. Keep an eye on broader market trends and any news that could impact the tech sector, especially semiconductor stocks.
NASDAQ:AMD
by BullBearInsights
AMD Short IdeaNVDA has earnings this week so not looking to make big bets on semis before, but I think AMD looks great for a short along with SOXX. Like I've said, maybe this is telling us something about the reaction to NVDA earnings. We'll see, I'm not betting directly on that either way especially not with big size. NVDA has only gone up after earnings recently despite many calling for a drop, so this will be interesting IMO. Having said that, if AMD breaks this little uptrend/bear flag it has been in since Monday, I think it could see a lot more weakness after, first target being the gap fill below around 141.
NASDAQ:AMDShort
by AdvancedPlays
$AMDThis could be the start of a potential juicy short. First major sign is we started a 1,2,3 retest rejection. As marked by the yellow arrows I’m on the 4hr but 24hr looks cleaner and this play is going off 24hr candles. 2nd confluence is the punch down back into the potterbox below our 50% mark without a doubt we are going to retest the 50% mark at around 154. If we reject, first target is 148. (Short is no longer valid if we reclaim 154 with a 24hr close) if Friday closes below 148 Second PT will be 142.
NASDAQ:AMDShort
by jorgewerner
AMD Rose 20% in Two Weeks. Here Is What Its Chart ShowsAdvanced Micro Devices NASDAQ:AMD has gained some 20% in the past two weeks, rising in part on news of plans to buy privately held server maker ZT Systems for $4.9 billion. Where does technical analysis say the stock might go from here? The ZT acquisition, which AMD announced on Monday, appears to be all about keeping up with Wall Street darling Nvidia NASDAQ:NVDA in the hot area of generative artificial intelligence, or “AI.” Chips designed by firms like AMD and NVDA perform all of the calculations that make generative AI possible. They are the brains of a network that stitches a multitude of servers together inside a data center. AMD is buying ZT for its expertise in this space, paying 75% cash and 25% stock in a deal the company expects to close next year. The company said in a statement announcing the deal that it plans to divest the part of ZT that manufactures servers, which is currently ZT’s primary revenue-producing business. AMD appears to just want ZT’s AI people. Now, AMD seems unlikely to catch Nvidia any time soon in the data center/cloud/AI race. But the ZT deal could help the company remain No. 2 in the space, biding its time and staying relevant and competitive. AMD has already come a long way since Lisa Su took over as president and CEO in 2014 (and as board chair in 2022). First it was PCs and CPUs, as AMD over time stole market share from once-dominant Intel $NASDAQ:INTC. Next AMD focused on gaming, GPUs and the data center. Now the company is taking aim at generative AI, once again doggedly pursuing an industry giant (NVDA) that has a big lead -- and an even bigger reputation. The game afoot only grows more complex, and the technology more advanced as time goes on. AMD’s Fundamentals As for fundamentals, AMD still has two months until it reports results for the current quarter in late October. Last month, the company posted second-quarter earnings that beat the Street on both the top and adjusted bottom lines, with 9% year-over-year sales growth. For the current quarter, the Street currently expects to see 32% year-on-year earnings growth and 16% revenue gains. If achieved, the results could represent AMD’s hottest quarter for sales growth since 2022, as well as its best earnings growth in even longer than that. Of course, AMD’s data center will have to lead if that’s going to happen, and Wall Street would like to see the company’s gap with Nvidia close just a bit among the firm’s higher-tech chips. AMD’s Technicals In the meantime, what might AMD’s chart tell us? Let’s take a look at where things stood as of Tuesday: The chart above shows a so-called “falling wedge” pattern, which historically denotes a bullish reversal. This pattern began back in March and continues to the present. Readers will also note that AMD has just retaken its 50-Day Simple Moving Average (the blue line in the chart above) and is now trying to retake its 200-day Simple Moving Average (the red line) as well. That makes the 200-Day SMA the stock’s current pivot point -- $156.78 as of Tuesday. In support of this set-up, AMD has a Relative Strength Index reading of 60, as denoted by the gray line above. That’s strong but not technically overbought, and is still rising in the chart above. We also have a Daily Moving Average Convergence/Divergence indicator (MACD) where the histogram of AMD’s 9-Day Exponential Moving Average (or “EMA,” denoted by the blue bars at the bottom of the chart above) is already in positive territory. Meanwhile, AMD’s 12-day EMA (the black line above) has already crossed over the 26-Day EMA (the gold line). This crossover is typically a bullish sign, and would mean even more if the two averages were already in positive territory to go along with the stock’s positive 9-Day EMA. That's not very far from happening. Perhaps a push above the 200-Day SMA would bring in some capital if portfolio managers felt forced to increase their exposure. (Full disclosure: Moomoo Markets Commentator Stephen Guilfoyle was long both AMD and NVDA at the time of writing this column.) This article discusses technical analysis, other approaches, including fundamental analysis, may offer very different views. The examples provided are for illustrative purposes only and are not intended to be reflective of the results you can expect to achieve. Specific security charts used are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. This content is also not a research report and is not intended to serve as the basis for any investment decision. The information contained in this article does not purport to be a complete description of the securities, markets, or developments referred to in this material. Moomoo and its affiliates make no representation or warranty as to the article's adequacy, completeness, accuracy or timeliness for any particular purpose of the above content. Furthermore, there is no guarantee that any statements, estimates, price targets, opinions or forecasts provided herein will prove to be correct. Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. In the U.S., investment products and services on Moomoo are offered by Moomoo Financial Inc., Member FINRA/SIPC. 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NASDAQ:AMD
by moomoo
2
Technical Analysis for AMD August 22, 2024Chart Analysis: AMD appears to be trading within an upward channel, but the price is hovering near the lower boundary of this channel. It seems like there is potential for a breakdown below this channel, which could signal a bearish move if confirmed. The key levels to watch are: Support Levels: Around $154.52, where the volume profile shows significant activity, indicating a strong support level. Resistance Levels: Around $162.03 and $157.97, which are previous highs and where price action might face resistance. The MACD indicator shows a potential bearish crossover on the horizon, which could further support a downside move if momentum follows through. Volume Profile: The volume profile shows a high concentration of activity between $156.63 and $157.97. If AMD breaks below the channel, these levels could act as initial support. However, if the price breaks above $157.97, it could signal a continuation of the bullish trend. Block Orders & Volume Analysis: No clear block orders or large volume spikes suggest significant institutional buying or selling at the moment. However, keep an eye on the volume during market hours tomorrow. If you see increased volume near the $154.52 support, it could be a sign of buyers stepping in, whereas a break below with increased volume could indicate further selling pressure. Market Outlook & News: According to recent economic data, there aren't any major announcements scheduled for tomorrow that directly impact AMD. However, keep an eye on broader market trends and geopolitical tensions that could influence overall market sentiment. General Market Sentiment: The overall market remains cautious, with concerns around global economic growth and inflation. If these factors create a risk-off environment, tech stocks like AMD could see some volatility. Trading Strategy for Tomorrow: If AMD Breaks Below $154.52: Consider shorting or waiting for a clearer entry point. Set your stop loss slightly above the lower channel boundary around $156.63. If AMD Bounces Off $154.52: Look for a long entry, targeting $157.97 and $162.03, with a stop loss just below $154.52. Stay updated on broader market conditions as any sudden shifts could impact your trades.
NASDAQ:AMD
by BullBearInsights
AMD Technical Analysis - August 21, 2024Timeframe: 1-Hour Chart AMD has been trading within a strong upward channel, showing a clear bullish trend over the past week. The stock has been respecting the channel's boundaries quite well, with higher highs and higher lows forming consistently. As of now, the price is trading just above the middle of the channel, hovering around the $156.66 mark. Key Technical Indicators: Ichimoku Cloud: AMD is currently trading above the Ichimoku Cloud, which is typically a bullish signal. The Cloud itself is green and trending upward, indicating potential support levels around the $154.55 area. This could provide a cushion if the price faces a pullback. MACD: The MACD is still in bullish territory, though we see some signs of convergence between the MACD line and the signal line. This could suggest a potential weakening of momentum, so keeping an eye on this for any bearish crossover is crucial. However, until that happens, the overall sentiment remains positive. Support & Resistance Levels: The immediate resistance is around $162, which aligns with the previous highs. If AMD can break through this level, we could see a continuation of the upward trend, potentially testing the upper channel boundary around $165. On the downside, strong support lies at the $154.55 level, where both the Ichimoku Cloud and the lower channel line converge. Conclusion: AMD is currently in a healthy uptrend with solid support and resistance levels. As long as the stock stays within this upward channel, the bullish sentiment is likely to continue. Traders should watch for a breakout above $162 for a possible continuation towards $165 or beyond. Conversely, a break below $154.55 could signal a change in trend or a deeper pullback.
NASDAQ:AMD
by BullBearInsights
AMD Technical Analyst for August 21, 2024Current Market Overview: Trend Line: AMD appears to be following a rising trend line, which it has recently tested. The price is near the trend line support, indicating potential support. Ichimoku Cloud: The Ichimoku Cloud shows that AMD is currently trading above the cloud, which typically indicates a bullish trend. However, the price is nearing the lower boundary of the cloud, which could act as a support level. Price Channels: AMD has been trading within a rising channel. The price action is close to the lower boundary of this channel, which could provide additional support. If it breaks below this channel, it might indicate a potential reversal or a pullback. Volume: The volume bar shows a red (bearish) candle, which might indicate selling pressure. However, the volume is relatively low, suggesting that the bearish sentiment is not strong. Key Levels: Resistance Levels: $162.03 (next major resistance if the price continues upward) Support Levels: $154.87 (current price level), $149.28, and $145.20 Trading Strategy for Tomorrow and the Week: Bullish Scenario: Long Entry: If the price stays above the trend line and continues to respect the channel, it could be a good opportunity to go long, especially if there’s a bounce off the trend line. Targets: First target at the $162.03 resistance level, and further upside could see it testing higher levels. Stop-Loss: Consider placing a stop-loss just below the trend line and the Ichimoku cloud, around $154.00. Bearish Scenario: Short Entry: If AMD breaks below the trend line and the lower boundary of the channel, it could signal a potential bearish reversal. A break below $154.87 with volume could confirm the downside move. Targets: First target at $149.28, with a possible extension to $145.20. Stop-Loss: Place a stop-loss above the recent high or the trend line to limit risk. Neutral Scenario: If the price consolidates around the current levels without clear direction, it might be better to wait for a breakout or breakdown from the channel before taking a position. Final Thoughts: Keep an eye on the overall market sentiment and any news that might affect AMD's price. Also, consider the broader market conditions, including SPY, as you mentioned before, since it can influence tech stocks like AMD. Adjust your strategy based on intraday movements and monitor key levels closely.
NASDAQ:AMD
by BullBearInsights
AMD Shares Soared After NewsAMD Shares Soared After News of a Server Manufacturer Acquisition Yesterday, it was announced that Analog Micro Devices (AMD) intends to acquire ZT Systems, a manufacturer of equipment for data centres, cloud computing, and artificial intelligence. The market responded positively, with investors believing this move could help AMD reduce Nvidia's substantial market share. As shown by the AMD stock chart, the price jumped by 4.5% yesterday. What’s next? On 30 July, we highlighted the support block formed by the $135 level and the long-term upward trendline (shown in yellow). Bears managed to push the price below this block during the overall market decline on 5 August, but only briefly. Technical analysis of AMD’s stock chart today indicates that the price has firmly risen above this support block. Moreover, the bulls demonstrated their ability to break through the median line of the descending channel (shown in red). This could suggest that the dominance bears have held since March 2024 is weakening. Looking ahead, this may lead to a test of resistance at the upper boundary of the descending channel. This resistance is strengthened by a bearish gap above the $170 level. According to forecasts from 30 Wall Street analysts surveyed by TipRanks, 24 recommend buying AMD shares. On average, they predict AMD’s price will reach $189.48 (about +22% from current levels) within the next 12 months. However, after evaluating the impact of the ZT Systems acquisition, these price forecasts may be revised upwards. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ:AMD
by FXOpen
2
AMD Technical Analysis August 20, 2024Chart Overview (1-hour timeframe): Trend: AMD is in an ascending channel with key resistance near $157.90 and support at $154.89. Volume Profile: Strong support at $149.27, indicating a possible area for a bounce if prices decline. MACD: Similar to NVDA, AMD is showing signs of potential exhaustion, indicating a possible short-term pullback. Resistance Levels: $157.90 (key resistance). Support Levels: $154.89, $149.27, and $145.19. Trade Strategy: For tomorrow: Consider shorting if AMD fails to break above $157.90, targeting $154.89. If the price holds above $157.90, a long position targeting $160.00 might be feasible. For the week: A break below $154.89 could lead to further declines towards $149.27. On the upside, a strong move above $157.90 could propel the stock towards $160.00 or even $165.00 if momentum continues. General: Given the potential for increased volatility due to macroeconomic factors, it's important to keep an eye on news and market sentiment. It may be wise to use tighter stop losses and to take profits more quickly if you observe signs of market instability. Additionally, given the ascending patterns in both NVDA and AMD, be cautious of potential bearish reversals, especially if key support levels are breached.
NASDAQ:AMD
by BullBearInsights