160 Possibly tomorrow.Double Bottom on the 1hr Chart. well do for retest of the 160 level for support which became resistance.
AMD trade ideas
AMD CALLSVolume in harmony with higher prices, creek phase complete, spring initiated. off we go from here. Riding 160 calls September OPEX myself.
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.
AMD broke supply zone. Here is the next downside targetAMD broke through the key supply zone. Further downside could trigger further selloff. Next downside target indicated. This analysis is for informational purposes only.
AMD BUY+++ First target is $161.56 back over strong support at $132 and closing in on a wedge which likely will break upward
AMD SELL+++ Too many are expecting NVDA to blowout earnings again, usually when this is the case and everyone expects something it doesn't happen. AMD broke it's recent uptrend and is weak, it's only up on the coattails of NVDA which, I will be surprised if history repeats itself this quarter
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.
AMD Analysis: Shorting to $100 as Cup & Handle Pattern FormsHello Traders,
I'm sharing a weekly chart analysis for AMD, where I’ve identified a Cup & Handle pattern. The current price is $148, and it's retesting the broken red trend line.
I suggest considering a short position targeting $100. I've also included a back test for the two previous patterns, which support the validity of the middle red trend line.
It's important to note that if AMD reaches the $100 level, the Cup & Handle pattern above the blue trend line will become valid, potentially targeting even lower levels around $55, or possibly further down.
Additionally, pay attention to the downtrend progression channel in cyan. The current price of $148 is positioned around the resistance of this channel's middle line.
If these scenarios play out, a harmonic pattern may also form, which I will define at a later stage.
Stay cautious and manage your risk!
$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.
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.)
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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.
Advanced _ Micro _ Devices _ Inc _ Week 4 _ Distribution _ PriceAdvanced _ Micro _ Devices _ Inc _ Week 4 _ Distribution _ Prices:
Pretty much the same as previous calculation and below you will be expecting during week 4, Aug and Mid Sep.
By Tomorrow $163.42.
______________________
Then, drop to the level of 143.87. Why? Missing Retest over Quarter 4, last year, Week 4 over week 3 resistance is missing (2) Understand how repeat cycle move.
______________________-
After the Retest we will move towards the advance stage with the following distribution prices:
$166.55
$175.45
____________________
We will take a short break until early Quarter 4.
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.
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.
Live trading my pre-market levelsCheck out my last video which i posted pre-market identifying our HTF trade ideas - and when they came to fruition like TSLA did, we entered and sit back until we reach out HTF take profit!
Happy Trading :)
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.
Bearish Case For AMD cont..Waiting for confirmation
Rocket to the 200 day moving average.
Looking for a rejection and deeper fall into the red.
Testing out the Skull and Rockets Indicator tool
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.
AMD - 100 EMA breakout about to happenAMD - stock broke above 50 and 200 EMA on daily time frame but needs to break $155.39 100EMA. decent call flow coming today. Stock is strong indicator level. Next resistance level at $170 where there is gap to $177.60. call above $155.39 looking good.
Amd is bullishAfter reclaiming the year open AMD is super bullish at the entry. AMD with the nice bullish divergence too!
Collar on AMD I did a $150 put sale and got put shares. I rcvd $1.50 credit when I did it. I REALLY would love to sell AMD at $175
But I'll be okay owning the shares for a while. I will sell my puts for a profit if AMD sells off and buy more shares. I'll be fine sitting in AMD for a 6+ months to be profitable, although I don't believe I'll have to.. .
In a Deal Worth $4.9 Bln, AMD to Acquire Server Maker ZT SystemsAdvanced Micro Devices Inc. ( NASDAQ:AMD ), a key player in the semiconductor industry, is making significant strides in its ongoing quest to challenge Nvidia Corp.'s dominance in the AI and data center markets. In a bold move, NASDAQ:AMD has announced its acquisition of ZT Systems, a privately-held server maker based in Secaucus, New Jersey, in a cash and stock transaction valued at $4.9 billion. This strategic acquisition marks a critical step in AMD's expansion into data center technology and AI infrastructure, positioning the company to better compete in an increasingly AI-driven world.
A Strategic Acquisition to Bolster AI Capabilities
ZT Systems, a veteran in the server manufacturing industry, has built a reputation for designing and producing high-performance servers for large data centers. These servers are crucial for companies investing heavily in artificial intelligence (AI) capabilities. By acquiring ZT Systems, AMD is not just expanding its portfolio; it's significantly strengthening its Data Center Solutions Business Group. This move aligns with AMD's broader strategy to enhance its AI systems and challenge Nvidia's market leadership.
Lisa Su, AMD's CEO, emphasized the importance of this acquisition, stating, "Our acquisition of ZT Systems is the next major step in our long-term AI strategy to deliver leadership training and inferencing solutions that can be rapidly deployed at scale across cloud and enterprise customers." Su's comments reflect AMD's commitment to expanding its AI capabilities, which have become increasingly vital as AI adoption accelerates across industries.
Aiming to Rival Nvidia's Dominance
Nvidia, the undisputed leader in the data center market, has built its success on offering a comprehensive suite of AI-related products, including chips, networking, servers, software, and services. AMD's acquisition of ZT Systems is a strategic move to close the gap and offer a more competitive suite of products that can meet the growing demands of AI computing.
NASDAQ:AMD has already invested over $1 billion in the past year to expand its reach in the AI market, and the acquisition of ZT Systems is expected to further accelerate this momentum. AMD's new MI range of accelerator chips is projected to generate over $4.5 billion in revenue this year, making it the most formidable challenger to Nvidia in the AI processor market. However, Nvidia's dominance remains unchallenged, with analysts predicting the company will generate $100 billion in data center revenue this fiscal year.
Strengthening AMD's AI Ecosystem
ZT Systems brings to NASDAQ:AMD a wealth of expertise in AI systems design, which includes not only silicon but also software and systems. This acquisition will enable NASDAQ:AMD to offer a more integrated and efficient AI infrastructure, which is essential as AI systems become more complex and demanding. The ability to design end-to-end data center solutions that are optimized for AI workloads will be a key differentiator for NASDAQ:AMD in the competitive AI market.
Moreover, ZT Systems' CEO Frank Zhang and President Doug Huang will play pivotal roles in integrating the company into AMD's operations. Zhang will lead AMD's manufacturing business, while Huang will oversee design and customer enablement teams. Both executives will report to AMD's executive vice president and general manager, Forrest Norrod, ensuring a seamless integration of ZT Systems into AMD's Data Center Solutions Business Group.
A Vision for the Future
The acquisition of ZT Systems is expected to close in the first half of 2025, and its impact on AMD's AI strategy will likely be felt for years to come. With this acquisition, NASDAQ:AMD is positioning itself as a more formidable competitor to Nvidia, particularly in the rapidly growing AI market. The combination of AMD's high-performance Instinct AI accelerator, EPYC CPU, and networking product portfolios with ZT Systems' industry-leading data center systems expertise will enable AMD to deliver end-to-end data center AI infrastructure at scale.
Technical Outlook
Advanced Micro Devices (NASDAQ: NASDAQ:AMD ) stock has risen 2.56% in Monday's premarket trading. After a bearish pattern, a strong bullish reversal on August 5 validated a shift in trend. AMD's acquisition deal is expected to drive growth in AI stocks, with strong buy ratings from tradingview.com and stockanalysis.com. The RSI stands at 52.92, indicating potential for further growth. However, traders should exercise caution, as AMD is currently trading below its 50, 100, and 200-day moving averages.
As the AI revolution continues to reshape industries, AMD's strategic acquisition of ZT Systems signals its commitment to being at the forefront of this transformation. By bolstering its AI infrastructure capabilities, AMD is not only challenging Nvidia's dominance but also paving the way for a more competitive and innovative future in AI computing.
