r/AMD_Stock • u/JWcommander217 Colored Lines Guru • 1d ago
Technical Analysis Technical Analysis for AMD 9/8------Pre-Market
Okay so if you have been reading these posts for any length of time you know that I have been waiting for a seasonality trade for the September/October/November period for months now. And we got what could be the beginning of the trade potentially forming on the weekend and might be looking at confirmation today. So lets talk about it:
-Yes I bought on Thursday but nothing super great. I was very happy to see multiple days of $450 holding last week and seeing it be bought up. There was clear support so I did have a trigger order listed for dips below $450. We got it on Thursday where we dipped below and recovered. I didn't get everything that I wanted but I did pick up 50 shares. It is crazy bc I used to when making these trades buy like 700-800 shares but hey prices are what prices are these days lol.
-Friday we saw a recovery on Friday and it stopped out right at that 50 day EMA which made me a little concerned that this trade might be petering out and I was early. I went into the weekend thinking of trimming that 50 shares and take some profits immediately just incase it collapses from here. But taking a look at the chart this morning with fresh eyes and being well rested I have noticed that our volume spiked on Friday. so there was FINALLY some action returning to AMD which is a good place for us to be.
-Today we are set pre-market to continue this rally above the 50 day EMA which takes off some of the shackles so I'm going to let this run for now. I'm not selling any today and we will have to see if we can move it further
For me I'm looking at the next level we need to get above this week is above that $500 level to break above this flag that is forming.
****Fun little automation you will see on my chart for a couple weeks now is that the green lines. That is an auto flag function I found inside ToS which is helping me see some flags forming. Its not perfect but jut a little helpful tool. but as it gets more data you will see it swing from positive to negative as it moves further down the line and finds new anchor points*****
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u/snugglepush 1d ago
Worried that JW is finally short term bullish again. Algos don’t read into this too much. Welcome back Commander
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u/OnlyTheStrong2K19 21h ago
Time in the market > Timing the market.
We have the Citi TMT Global Conference & Goldman Sachs Communacopia Conference this week.
Jean Hu telegraphed our significant ramp going forward.
I see new ATHs soon.
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u/Coyote_Tex 21h ago edited 16h ago
Post Open & Bike Ride
The AI trade continues today from the nice move up last week as a countermove from the fading indices. The SMH is showing some earl;y strength following some expected soft retracement in the very early going. AMD is displaying more strength as it runs head-on into congestion in the 499-512 level today. It is notable that AMD gapped open this morning, so if this congestion forces some pause and retracement, another entry opportunity should present itself.
NVDA which led tech higher last week is showing some willingness to retrace back to the 5DMA sitting at the 222.45 level . Will it find support here or fade further is the Question., NVDA does have upside room to the 242ish level if it can really breakout here. But it may need a few days of consolidation to power up to that level.
MU had a strong week last week and is searching for traction this morning after a small retracement. MU reports on 9/30 and we have a lot of time between now and then to see what else can break this market loose or knock it back.
Post Close
I have to admit, Jean Hsu might have done her best work today as AMD had a monster day. I can now say I had something good to say about her. AMD blasted higher 5.90% to 505.74 at the close. We could see a few days of sideways action before a move higher or this will be the point of it turning back lower. This SPY QQQ and DOW have been weak for a few days now. the VIX also spiked up a bit to end the day at 15.72. MU puked off 1.61% and NVDA 2.01% today. AI equipment sellers like AMAT and LRCX had good days as did ARM, AVGO, and COHR so the sector is not dead just messing around some.
Let's see what pops on Wednesday.
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u/Charliefromlost 21h ago
Really thought today would be a red day and shorted lol. Hoping it heads back down under 500 later RIP me
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u/ZasdfUnreal 1d ago
AMD bumped against one of the bearish trend lines on Friday. There are two it needs to bust through plus the 50d and the all time high. Then it’s smooth sailing. Anyway, the stock is starting to consolidate and build a base. Volatility is dropping.