Advanced Micro Devices, Inc. - Short - long failed upward candleAs of 10 April 2024, AMD PE ratio is at 334. It had a long failed upward candle on 8 March 2024.
Downside till 95 dollars.
AMD trade ideas
AMD - Watch for Earnings tomorrow NASDAQ:AMD seems to be oversold and ready for turnaround. Catalyst will be solid earnings as this $228 Billion market cap ugly step sister to NVDA will surprise.
Gap should be filled on way up.
GLA
AMD SlingshotBullish Biased on this one with or without the Earnings, but hoping for a template of reference elements to help navigate the journey of the future of this stock. While the path of the Stealth Icons should be self explanatory, the curved lines might not have meaning for the price action in the future but still should provide the broad idea I am looking for in this picture. Hopefully the stock remains in the cup and eventually explodes one way or another out of it above the top gray.
While the bottom gray might not hold in case of a prolonged corrective formation with different wave patterns and design, leading to an encounter with any of the rectangles, I firmly believe there is almost no chance of the price entering the green/blue zone polygon. I might be wrong, but still, it is an element to highlight my vision for this one.
Don't know if this one will prove to be as interesting as the Netflix Project, which is similar in design with the dotted path targets, but still, as usual in nen project, there will be updates, comments, candlestick analysis, bias confession, and more.
If the price does indeed eventually go up, my hope is that somewhere near the gray we might have some more candlestick related price action relative to the top gray. I expect not hectic but impulsive trading days for AMD and potential surprises that might disrupt the flow of the evolution of the price. Looking back on the past activity there are many gaps, many long candles so more of the same could be expected, especially near and after earnings.
AMD surpasses expectations and raises AI chip sales for 2024Advanced Micro Devices (AMD) reported impressive quarterly results, beating analysts' expectations and raising its revenue forecast for artificial intelligence (AI) chips through 2024. According to the company's projections, demand for AI chips will outstrip supply through 2025, indicating a sustainable growth trajectory for AMD's key business segments.
For Q3 2024, AMD forecasts revenue of 6.7 billion USD, which aligns with LSEG analysts' average estimate of 6.61 billion USD. This projection is supported by the recovery of the PC market, which is experiencing a resurgence after a significant downturn. Integrating new artificial intelligence features is expected to boost consumer demand further.
In the data centre segment, AMD's largest division, revenue in Q2 rose 115% to 2.8 billion USD, exceeding expectations of 2.79 billion USD. Notably, quarterly revenue from artificial intelligence chips in this segment surpassed the 1 billion USD mark for the first time. Overall, AMD's revenue in the second quarter grew by 9% to 5.8 billion USD, exceeding the forecasted 5.72 billion USD.
Technical analysis of Advanced Micro Devices (NASDAQ: AMD)
Exploring potential trading opportunities based on AMD's stock performance:
Timeframe : Daily (D1)
Current trend : the stock is in a downtrend, but recent strong earnings and positive forecasts may catalyse a shift to an uptrend
Resistance level : 153.60 USD
Support level : previously at 138.60 USD, which has now been breached
Potential downtrend target : if the downtrend persists, the downside target could be at 117.50 USD
Short-term target : if the trend reverses and the stock returns above the previous support level, a short-term target could be 174.60 USD
Medium-term target : with sustained positive momentum, the stock price might aim for 188.50 USD
Investors and traders should keep a close eye on AMD, especially as the company capitalises on the growing demand for artificial intelligence chips and benefits from the recovery of the PC market. AMD's strategic focus on artificial intelligence and data centres sets it apart from its competitors, which may further boost the stock.
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AMD: Broke Through SupportAMD has fallen below support at 134, so more selling is coming. I got beat up on my AMD calls, but the beauty of options is you can quickly recover when you jump ship on your positions quickly and buy puts to offset your losses. It's important to find supports and resistances, so you can have an exit strategy if a trade does not go your way. It's also important to be ready and able to change your stance on a stock if it begins to show signs of reversing.
I was reading an article on investopedia about the Sahm Rule Recession Indicator which I found interesting and will share the link below. With unemployment rate coming out tomorrow, the market could sell-off quickly if the indicator is triggered.
PT1 is 122 and PT2 is 116
www.investopedia.com
AMD: Back From VacationHi everyone, I hope you all took advantage of those calls on NASDAQ:NVDA , NYSE:CMG , and NASDAQ:AMD while away. I'm back from vacation and on CLOUD 9! There's nothing like escaping into the mountains for some R&R.
As you can see, AMD hit the support target to the dollar and bounced off during afterhours due to a positive earnings report. RSI was predicting a reversal move and as much as I hate playing options contracts before earnings, this one was too easy to pass up. My first target is $171 and PT2 is $175.
I'll be posting on MSFT next.
Advanced Micro Devices, Inc. (AMD)AMD has recently faced significant bearish pressure, with its stock declining by over 6% in a single trading session. Despite this drop, there are signals indicating a potential reversal, making it crucial to analyze the latest technical indicators, market sentiment, and fundamental catalysts to determine future price action.
Relative Strength Index (RSI): Currently at 32.91, the RSI indicates that AMD is approaching oversold conditions, suggesting a potential for a reversal if buying pressure emerges.
Momentum Indicators: Both the MACD level (-7.36) and Momentum (-20.02) signal bearish trends. A turnaround would require a positive shift in momentum, potentially spurred by news or a change in market sentiment.
Short-term Averages: The exponential moving average (EMA) for 10 days is at 145.37, while the simple moving average (SMA) for 10 days is at 144.28, both indicating a bearish outlook as the current price sits below these levels.
Long-term Averages: The 50-day EMA is at 158.64, suggesting that AMD would need a strong upward move to break through this resistance level.
The Ichimoku Base Line (160.67) shows a significant resistance level. A close above this line could shift the current bearish narrative, highlighting the importance of watching price movements near this level.
Market Catalysts:
The semiconductor sector is currently experiencing mixed signals. With a focus on AI and high-performance computing, AMD's long-term growth potential remains intact, but short-term volatility is expected.
Earnings Forecast: Analysts are predicting a price target of $189.44, which represents a potential upside of nearly 40% from the current levels, driven by expected revenue growth and market share gains.
Long Position:
Entry Point: Consider entering a long position if AMD breaks above $140 with significant volume, confirming a reversal from oversold conditions.
Price Target: Aim for a short-term target of $160, with potential for higher gains if AMD surpasses the 50-day EMA.
Stop Loss: Set a stop loss at $130 to manage downside risk.
Short Position:
Entry Point: Initiate a short position if AMD falls below $130 with strong selling pressure, indicating further bearish momentum.
Price Target: Target a decline towards the $120 support level, where a bounce might occur.
Stop Loss: Implement a stop loss at $140 to minimize losses if the trend reverses unexpectedly.
While AMD is currently facing a "Strong Sell" technical rating, its oversold RSI and industry potential suggest an opportunity for speculative investors. The decision to long or short should be guided by close monitoring of price action and broader market trends. Given the current setup, traders should remain vigilant for any news or technical shifts that might alter AMD's trajectory. As always, maintain a disciplined approach with clear entry, exit, and risk management strategies.
AMD: Key Support/Resistance Levels to Watch. (D&W charts).The chart analysis for AMD reveals a complex interplay of support and resistance levels on both daily and weekly timeframes, suggesting key trends and potential pivot points for the stock.
Starting with the daily chart, AMD has shown resilience at specific support levels, particularly around the 153.49 mark, which has acted as both a gap support and a critical level where the stock has bounced multiple times. This area appears to be a robust key point. However, after it lost this support, a new resistance is clearly defined by the 21-day EMA coupled with the 153.49 price level, following the Principle of Polarity which suggests that once support is broken, it becomes resistance. This transition points to a key battleground for AMD, where the stock’s ability to reclaim this level could signal a potential reversal or, alternatively, a failure to overcome this barrier might reinforce a bearish outlook, mid-term speaking.
On the weekly timeframe, the chart demonstrates a struggle around the 132.83 level, previously a resistance that now serves as a major support following the Principle of Polarity again. The current approach towards this level suggests a testing phase where the future direction of the stock will be determined by its ability to maintain above 132.83. The proximity to this crucial support level, paired with recent downward moves, highlights a potentially pivotal moment for AMD in the medium to long term.
Collectively, these observations from both timeframes suggest that AMD is at a critical juncture. The repeated tests of well-defined support and resistance levels underscore the ongoing uncertainty and volatility associated with the stock. For now, we should closely monitor these levels, as breaks or bounces could provide significant indications of AMD's future price trajectory.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
$AMD - short term retracementHammered back off of resistance, there are multiple resistance channels at this level. Entering bearish portion of regression channel.
Processor industry getting hit because NVDA is reversing and may be dragging the overall sector as well.
Few red days in a row, short term bearish chat forming
Target is 175 short term before any other moves up.
not trading advice is you crazy
AMD Skyrockets Over 9%, Nvidia Rises: What’s Driving the Surge?Overview
Advanced Micro Devices, Inc. (NASDAQ: NASDAQ:AMD ) saw its shares soar over 9% in premarket trading on Wednesday, following an impressive second-quarter earnings report that exceeded expectations. The strong performance has also positively impacted rival Nvidia (NASDAQ: NVDA), which experienced a rise in its stock price. Here’s a detailed look at what’s happening and why AMD is grabbing headlines.
Record-Breaking Q2 Performance
NASDAQ:AMD ’s second-quarter results were stellar, with revenue and earnings surpassing Wall Street's expectations. The highlight was a record surge in data center revenue, which soared to $2.8 billion, marking a 115% year-over-year increase and a 21% sequential growth. This surge was driven by high demand for AMD's Instinct, EPYC, and Ryzen processors.
CEO's Optimism
Lisa Su, AMD's CEO, expressed confidence in the company’s trajectory, stating, “Our AI business continued accelerating and we are well positioned to deliver strong revenue growth in the second half of the year led by demand for Instinct, EPYC, and Ryzen processors.” This positive outlook has further fueled investor confidence.
Strong AI Business Growth
A significant contributor to AMD's success has been its AI business. On the earnings call, Su mentioned that leading cloud and enterprise providers expanded the availability of Instinct MI300X solutions, and quarterly revenue for MI300 exceeded $1 billion for the first time. This milestone underscores the robust demand for AMD’s AI and data center products.
Impact on Rivals and Sector-Wide Rally
The positive sentiment generated by AMD's strong quarterly results has extended to other semiconductor companies, particularly Nvidia. Nvidia shares rose 5.40% to $109.40 in premarket trading, buoyed by the anticipation of its upcoming earnings report on August 28. Qualcomm also experienced gains, as AMD’s success provided a boost to the overall sector.
Geopolitical and Sector-Wide Factors
The semiconductor sector received additional uplift from reports suggesting potentially less severe U.S. export restrictions on China. According to news sources, new U.S. chip export restrictions might exclude allies like the Netherlands, Japan, and South Korea, which alleviated some concerns in the market. This news, combined with positive earnings, contributed to the rally in semiconductor stocks.
Global Semiconductor Rally
Shares of global semiconductor firms rallied on Wednesday, boosted by the strong earnings in the sector and favorable geopolitical developments. Samsung’s shares rose significantly after a notable jump in operating profit, and ASML also saw gains following the Reuters report on U.S. export restrictions.
AMD Stock Performance
NASDAQ:AMD stock, which had been down over 6% year-to-date, climbed 9.40% to $151.45 in premarket trading. If these gains hold, NASDAQ:AMD could erase its year-to-date losses. This strong market reaction reflects the confidence investors have in AMD’s growth trajectory and its ability to capitalize on the burgeoning demand for AI and data center technologies.
Conclusion
AMD's exceptional second-quarter performance, driven by record data center revenue and robust growth in its AI business, has significantly boosted its stock price and positively impacted the broader semiconductor sector. The appointment of CEO Lisa Su and the company’s strategic focus on high-demand areas like AI and data centers have positioned NASDAQ:AMD for continued success. As the semiconductor industry navigates geopolitical challenges and market fluctuations, AMD's strong fundamentals and growth prospects make it a standout player.
AMD Final Flush completed. Next High above $300.The Advanced Micro Devices (AMD) have most likely bottomed on this week's 1W candle as after breaking last week below the 1W MA50 (blue trend-line), their earnings report last night came out better than expected and the opening is expected considerably higher.
Technically, the stock has almost touched the bottom (Higher Lows trend-line) of the 2-year Channel Up that started on August 01 2022. This can be a similar Higher Low to the last one on the week of October 23 2023. As you can see, that Low was priced while the 1W CCI was Oversold (below -100.00), similar to today. The Channel's first Low was again on an oversold 1W CCI on the week of October 10 2022.
As the same time, we are as close to the bottom of the Sine Wave as possible, which again, as you see, has marked the last two Higher Lows of the long-term Channel Up.
We don't expect any more divergencies from what a typical Channel Up would suggest, and that is the start of a new Bullish Leg, its 3rd so far. If the next Higher High is exactly at the top of the Sine Wave, then we can expect it in early January 2025. The previous two Higher Highs were priced after +144% rallies from the Lows, so it is possible to see $345.00 if this symmetry continues to hold. A 300 - 320 Target Zone though is in our view more suited for a Higher High.
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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.
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.
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 Bearish on the Daily#AMD has an impulse, an ABC 3 wave corrective structure and has impulsively broken out of the corrective trend line.
Look for sells along the way to the fib extensions of 27.0 and 61.8
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 Bear Butterfly Versus AMD Bull Butterfly.the detail is shown in the above Idea.
AMD bear butterfly is formed completely and angry buyers were present in 1.27 F
and now AMD bull Butterfly Is ready ( after growing right eye) to fly higher and higher.
AMD Megaphone BreakAMD just broke below its megaphone after having a rejection off the top end. I'd consider this to be a pretty major break that should lead to more downside if there's no quick recovery.
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 :)
