Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Advanced Micro Update

Published 04/07/2021, 04:31 PM
Updated 07/09/2023, 06:31 AM

Advanced Micro Devices Daily Chart.

Share of Advanced Micro Devices Inc (NASDAQ:AMD) are setting up for a fresh rally leg. The stock is working on a fifth-straight gain and is now up 10% from the March lows.

AMD is far from overbought and is just now beginning to lift off deeply oversold levels (daily/MACD)

The $74.00 area has proven to be a very solid support zone( held Sept/Nov/March lows).

We view AMD as a fairly low-risk buy near current levels.

On the downside, a close back below $79 would violate the April low, indicating more basing will be needed before a fresh rally leg can take hold.

Earnings are due April 27.

Note: We are long AMD in our Tactical Opportunity Portfolio.

You can read Gary S. Morrow's original post here.

Latest comments

well said, i completely agree, far to many were very quick to sell, when i myself saw it as a leveling up purchase opportunity i hope someday soon this all pays off!
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.