AMD is in a new bullish trend . Breaking the previous yellow line downward trend was a big feat and allowed for a fat run. This break was significant. It has now just corrected from strong resistance and touched the trendline where it currently sits. Monday should see it pop up, LONG as long as the trendline stays intact. If it drops below 85 without buyers jumping in and popping back up above 85 ($84 is really cheap looking by now...) then it's time to step out and wait for a new trend to form. Often a break of a trendline is very briefly tested before bouncing right back up. I'm paying attention to market conditions, but getting very close to expected good AMD earnings there is a very good bull case for a run up to ER. A run to 100+ is imminent as AMD , like NVDA , is a hot 'gamer' stock unlike Intel which nobody likes or cares about. NVDA broke the same 1 year sideways trend with a vengeance and I believe AMD will do the same this year. Approval of the XLNX deal from China would definitely send it.
I anticipate close to $90 by ER
I anticipate close to $90 by ER
Comment:
$84 was indeed cheap and got bought up like kids with candy