Every analysis I've seen on AMD is Bullish, and I hate to be the naysayer, but I do not see it. At least, not right now. Here is why, based solely on chart patterns, trends, and technical indicators.
The following analysis should be viewed as valid only in the short term, say, one to two weeks, and depends on assumptions related to consistent volume patterns. Should the volume break out, the analysis is void.
AMD has made three bold attempts in the last 8-9 months to break above its $74 support level, but it has come crashing back down.
Currently, it is traveling below its 50D EMA and has closed multiple times below its 200D EMA - something it hadn't done since March 2020, when the COVID crash began. To me, that spells trouble for the company, especially on waxing volume.
The most I would hope for is sidewise movement as the 50 EMA, and the 200 EMA start to cross paths, or skilled investors might look for a short. Either way, I think it's a bumpy road ahead until we get a clear signal or a breakout on increased volume. At current volume levels, it's slow sidewise movement or a continued downturn.
This is not investing advice. I'm new to this. Please don't listen to me.
I, however, do have a put on AMD dated 4/16. I've had it a while, and I'm holding it.
The following analysis should be viewed as valid only in the short term, say, one to two weeks, and depends on assumptions related to consistent volume patterns. Should the volume break out, the analysis is void.
AMD has made three bold attempts in the last 8-9 months to break above its $74 support level, but it has come crashing back down.
Currently, it is traveling below its 50D EMA and has closed multiple times below its 200D EMA - something it hadn't done since March 2020, when the COVID crash began. To me, that spells trouble for the company, especially on waxing volume.
The most I would hope for is sidewise movement as the 50 EMA, and the 200 EMA start to cross paths, or skilled investors might look for a short. Either way, I think it's a bumpy road ahead until we get a clear signal or a breakout on increased volume. At current volume levels, it's slow sidewise movement or a continued downturn.
This is not investing advice. I'm new to this. Please don't listen to me.
I, however, do have a put on AMD dated 4/16. I've had it a while, and I'm holding it.