AMD’s Pullback Could Be Ending
Advanced Micro Devices more than doubled in the first half of the year. Now, after a healthy pullback, the semiconductor stock may be ready to climb again.
The first pattern on today’s chart is the falling trendline along the highs of June, August and September. AMD pushed through that line last week and has remained above it since.
Next, the $105 area was a peak on September 29. Prices tested it on Friday but are now rebounding. Has old resistance become new support?
Third, the current gains are occurring at the 50-day simple moving average (SMA). Further upside from here could turn the intermediate-term trend higher.
Also notice how the bounce started at the 200-day SMA on September 25. That may suggest its longer-term uptrend remains in effect.
Finally, MACD is rising and the 8-day exponential moving average (EMA) is above the 21-day EMA. Those signals could reflect more bullish price action in the shorter term.
The next earnings date is estimated for October 31.
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Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
The first pattern on today’s chart is the falling trendline along the highs of June, August and September. AMD pushed through that line last week and has remained above it since.
Next, the $105 area was a peak on September 29. Prices tested it on Friday but are now rebounding. Has old resistance become new support?
Third, the current gains are occurring at the 50-day simple moving average (SMA). Further upside from here could turn the intermediate-term trend higher.
Also notice how the bounce started at the 200-day SMA on September 25. That may suggest its longer-term uptrend remains in effect.
Finally, MACD is rising and the 8-day exponential moving average (EMA) is above the 21-day EMA. Those signals could reflect more bullish price action in the shorter term.
The next earnings date is estimated for October 31.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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