Analysis of AMD Share Price Ahead of Today's ReportAnalysis of AMD Share Price Ahead of Today's Report
The earnings season is in full swing: over 200 companies in the S&P 500 index (SPX 500 mini on FXOpen) have reported their current cycle results, with average earnings up 6.5% year-on-year and revenue growth of 4.1%, according to a client note from Oppenheimer Asset Management published on Monday.
This week, investors are awaiting reports from mega-cap companies, including Apple (AAPL), Microsoft (MSFT), Facebook (META), and Amazon.com (AMZN). Among other major brands are Intel (INTC), Boeing (BA), Pfizer (PFE), Exxon Mobil (XOM), as well as chipmaker AMD, whose second-quarter earnings report will be released today after the close of the main trading session.
Analysts expect AMD's earnings per share to rise from $0.62 to $0.68.
What does the AMD chart indicate?
Despite the S&P 500 index (SPX 500 mini on FXOpen) rising approximately 15% in 2024, AMD's share price remains near its January start price.
Technical analysis of AMD's share chart shows that the price was in an uptrend (shown in blue) in the first half of 2024, but the trend turned downwards (shown in red) after the price exceeded the psychological level of $200.
Today, AMD's share price is near a support block formed by:
→ the long-term trend line (shown in orange);
→ the lower boundary of the downward channel;
→ the current yearly low around $135 per share.
It is possible that today's earnings report could provide a fundamental driver (e.g., higher-than-expected earnings per share) for a reversal upwards from this support block.
Meanwhile, forecasts remain optimistic. According to predictions from 34 Wall Street analysts surveyed by TipRanks, 28 recommend buying AMD shares. On average, they forecast AMD's price to reach $194.93 (nearly +40% from current levels) within 12 months.
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A1MD34 trade ideas
AMD - "Am I in trouble" - Why We WAIT!This is in response to someone who commented on my last AMD video a week ago saying he sold puts for 2 weeks out (indicating he wants the price to hold above a certain level). Here is why I'm skeptical and why I identify and WAIT for my targets to be hit, especially when there is such an attractive Higher Time Frame point of interest.
If you understanding market dynamics and liquidity building, you can understand that things take time to develop and the difference between a winning and losing trade or success in this business is whether you waited for your trading plan to play out or if you jumped in early because of FOMO, etc.
Hope this was helpful Vlad!
Happy Trading :)
AMD Advanced Micro Devices Options Ahead of EarningsIf you haven`t bought AMD before the previous earnings:
Now analyzing the options chain and the chart patterns of AMD Advanced Micro Devices prior to the earnings report this week,
I would consider purchasing the 140usd strike price Calls with
an expiration date of 2024-10-18,
for a premium of approximately $13.90.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
AMD: Earnings TradeAMD reports earning next Tuesday and is currently resting on a support zone from DEC/JAN. I am taking a small CALL position before earnings with the anticipation of a 175 gap fill and potential move to 184 in the next few weeks. If you follow this trade, I would recommend taking a small position, so it will not take out your account if it goes against you. Thanks again for all the support and have a wonderful weekend!
AMD - Correction of -40% over?NASDAQ:AMD just created a new all time high, however we have to be quite careful now.
Volatility is the basis of every major trading position and trading profit. Advanced Micro Devices is just such a stock which offers volatile swings every now and then. Currently Advanced Micro Devices is retesting the previous all time high which is now acting as support. I do expect a move higher but there is simply no good risk to reward setup at the current levels.
Levels to watch: $155, $110
Keep your long term vision,
Philip - BasicTrading
AMD - How should we play the semi-conductor sector?There will be major opportunity here long term - but in the short term, we need to exercise patience - especially in this sector! There have been crazy gains and though that is likely to continue with the AI boom only getting started, we still have to be aware of market mechanics and we know that this sector needs to build liquidity before making another run.
Happy Trading :)
AMD looks bearish
-Big time indicators are bearish as well as chart pattern shows price goes under previous all time highs signing more down side push expected.
-look closely around $165 level if price pulls back and consolidate around that area next day or two.
- If bounces down, the next targets are $145 and $135 in opinion.
Really appreciate your thoughts and ideas on this view!
Thank you and Good luck.
AMD - Symmetrical triangle on the dailyWith all the AI noise going around and Semiconductor stocks rallying, it would be interested to see what AMD does here from now until the ER which is nearly a month away from today
I see a Symmetrical triangle formation on the Daily chart for AMD.
On the upside, we have supple zone from 165-171/2 levels where we would see some resistance.
On the downside, we have demand zone from 145-150 levels which should act as support. If this support holds and we initiate long, then 139 can be your SL
I will not be initiating a trade now unless I see which side we are going to break from the symmetrical triangle and place my bets accordingly.
AMD - buy the dipNASDAQ:AMD has seen a failed breakout out of a cup and handle 3c pattern. It has performed the worst out of the whole sector year to date. Earnings is coming up on July 30th, I believe this is a perfect setup for a rip to ATH, as AMD is seen as the biggest potential competitor for nvidia AI gpus. Cloud providers are buying every GPU they can lay their hands on, which is why I believe AMD will post great earnings, with strong growth in DC, target is ATH in the week following earnings which is why I am buying long diagonals (sep/aug) and bull spreads for August after earnings.
Signs of strength for AMDAMD has been a laggard in the semiconductor space. However, since the bear market low it's been in a clear bull trend despite being outshined by NVDA.
It's discernible that AMD may have some cyclicality in its price action.
For the first 256 trading days from the 2022 low AMD found a high on day 161 and went into a bear trend until day 256. We are currently on day 164 since that last low. Originally I believed we topped early and would form a new low around day 256 like the last period.
AMD not rolling over back to 140 forming a base is a sign of strength. Who doesn't love a good catch up trade.
Aug 16 180C.
Invalidation is if we drop below 160.