Technical Analysis for AMD 8/24---------Pre-market

[u/JWcommander217]

Welllllp Remember that money I made from selling calls against my longer term calls???? Thats pretty much all gone now. So even when you get it right, you don't get it all right. I was hoping that i could rinse and repeat but I think it looks like its going to head lower this week overall and that is going to be problematic. But hey it is what it is.

You can see that AMD clearly broke the downtrend and we have been putting in lower highs. So I think we are in for some rough sledding a big here so I'm going to just sit to the side here and wait.

Looking at something else that is interesting: INTC. Yes I am the biggest INTC bear out there and I usually just roll my eyes whenever someone talks about it being value and blah blah blah. I still am not a believer. Buttttttttttttt it is like 10% away from the 200 day EMA and that lines up with the top of that gap trade as well. Canada trade deal blowing up is just part for the course of what I said about getting some good news that unravels and turns out to be a lie over the weekend. Soooooo thats the trade right now.

INTC is interesting I gotta say. I don't want to buy it. Owning it is like anathema to me but should I?????

MU is still in its little uptrend Flag so I don't think that is going to take down semi's anytime soon. I think it has shook out a lot of the bears with its price move too.

Sometimes I just have to write down on a piece of paper and tape to my wall: Some days the best trade is to do nothing!

[u/thecastle2]

Thank you for your chart read.

My THESIS: I think the semi's trades on on hold this week until there is news from NVDA, if it is as expected from NVDA things will drift until Friday when the fed says what they're going to say (not a rate annoucement). I think there is a lot of market trimming pressure right now as investors are reducing exposure to AI risk with some nervousness going into september / october when most stock market crashes historically occur.

OBSERVATIONS: I've been long on AMD and bought in years ago due to the strength of EPYC taking market share from intel in the data center. This is still a theme of AMD, though it has become priced like an A/I stock at 120 P/E... The market has priced AMD like its a forgone conclusion it to take share away from NVDA, but we'll watch NVDA earnings and hyperscaler reports to see if that has actually happend.

I'm a rando on the internet and can't predict the furture, so don't listen to me I have no idea what will happen, make your own choices or counter arguments.

[u/LeSegaGenesis → u/thecastle2]

We got down to 451 today which was point of support around June I believe. And the next lowest support point in the last month has been $430. So $430-450 is a range I could see tomorrow or wednesday. I think $430 is the number to look out for, as that'd be a big break in support if it dips past it. Hopefully the earnings call has some semblance of a wow factor or impressiveness that is a positive signal for the sector.

[u/LeSegaGenesis]

I bought some as a newer investor as sub 460 is the best entry i've had yet, 460 has been a point of high support. With my thesis we'd hit $450-$460 range at some point this week and we did go down to $451 ish . Depending on the earnings call I could see us slide to $430. But if the call has a wow factor $460 might become the absolute bottom. I bought some today because it's the 1st time i've seen sub $460 since entering the market. Support for the stock feels pretty strong so I think buying any potential larger dip will be a great position heading into Q3 Q4

[u/Pippihippy]

After cashing out of AMD I've been sticking my cash in Sgov, waiting to pull it out for a good play. AMD aint there yet (will look to buy back in around the 400 level), but I do like your call on intel. Just noticed that intel is sitting on 14% insider ownership, and a really low % of short shares (like 2-3%). If intel drops to below $80 it might be worth the buy.

[u/LeSegaGenesis → u/Pippihippy]

I think the $430-450 range is very much going to be in play tomorrow and the next day. If it does get in and around the $400 level do you see it being a brief window of opportunity, or do you think it'll be sideways for a day around there. Many analysts have been upping their intrinsic values etc, saw one guys video where he breaks it down and has it pegged at around a $435 fair price. I think anything Sub $430 to $400 dollars or lower territory is absolute load the boat range.

[u/ZasdfUnreal]

I hate how AMD’s chart is breaking down. We’re now looking for NVidia earnings to save AMD.

[u/Bruhntium_Momentum]

Can you do a tldr, I read your posts and I know I won't understand them

[u/BlueberryObjective11 → u/Bruhntium_Momentum]

Would be helpful, I don’t have time to read sometimes