Watching Level 2 some time ago the screen sped up with the price moving up fast. I can't find any news to move the price and we'll see how this plays out today in a down market
Run has started with the markets still red with some recovery. Their was big resistance at 4.50 that is now the support. Market melting a little more now, We'll see if AMD can still head north
Even though AMD rallied to close positive it was more like the consolidation I saw yesterday. Looking at L2 it was very controlled and the price never dipped below the support @4.50. This is what we saw when AMD was trading in the mid-three's before the next leg up. Today's trading was on light volume as I think most of the market was as well. I am good with the consolidation until the next pop.
With a brutal market this morning and the shorts are pushing the price down. Currently AMD has a higher low and has moved more out of the overbought level. Advanced Micro Devices Inc. (NASDAQ: AMD) had a short interest increase to 91.34 million shares. The previous level was 84.63 million, and it compared to the late July level of 157.66 million, easily the highest in the past 52 weeks. Shares of AMD closed Thursday at $4.52, in a 52-week range of $1.61 to $4.71. http://247wallst.com/technology-3/2016/06/10/major-semiconductor-short-interest-remains-mixed/
Besides the upgrade below there will be E3 live streaming and news out about Playstation and XBox that may give more strength to AMD Top Analyst Upgrades and Downgrades: AMD, Agios Pharma, Baidu, Diamond Offshore, LyondellBasell, Occidental Petroleum and More Read more: Top Analyst Upgrades and Downgrades: AMD, Agios Pharma, Baidu, Diamond Offshore, LyondellBasell, Occidental Petroleum and More - Advanced Micro Devices, Inc. (NYSE:AMD) - 24/7 Wall St. http://247wallst.com/investing/2016...-occidental-petroleum-and-more/#ixzz4BStbeFbr Follow us: @247wallst on Twitter | 247wallst on Facebook Advanced Micro Devices Inc. (NASDAQ: AMD) was reiterated as Buy at Jefferies, and the firm raised its price target to $5.50 from $4.50 (versus a $4.32 close). The firm believes that AMD is having good execution on its 14nm Polaris GPU and on pending ramps of three new semi-custom products. AMD has a consensus analyst price target of $3.56 and a 52-week trading range of $1.61 to $4.71. Read more: Top Analyst Upgrades and Downgrades: AMD, Agios Pharma, Baidu, Diamond Offshore, LyondellBasell, Occidental Petroleum and More - Advanced Micro Devices, Inc. (NYSE:AMD) - 24/7 Wall St. http://247wallst.com/investing/2016...-occidental-petroleum-and-more/#ixzz4BStI4Gzh Follow us: @247wallst on Twitter | 247wallst on Facebook http://247wallst.com/investing/2016...lyondellbasell-occidental-petroleum-and-more/
With the 480 giving the same performance of the GTX 980 at way less than half the price, this is such a big win for PC gamers and VR enthusiasts.
Probably the market pulling back from being green and the shorts have not gone away completely. AMD and NVDA will probably keep leap frogging each other in performance but that the fact the 480 will be offered for $199 will bring in market share. To be released on June 29th. AMD Radeon RX 480 benchmark results leak, beats the GTX 980 in 3DMark FireStrike Ultra http://en.yibada.com/articles/13126...-480-benchmark-results-leak-beats-gtx-980.htm
I gotta scoot guys, but I will leave you with this> Why Jefferies Just Became Even More Optimistic About AMD’s Future Read more: Jefferies Raises Price Target on Advanced Micro Devices (NASDAQ: AMD) - 24/7 Wall St. http://247wallst.com/technology-3/2...ecame-even-more-optimistic-about-amds-future/
AMD Teasing New Announcements At E3’s PC Gaming Show – Watch It Here At 1:30 PM CT Read more: http://wccftech.com/amd-teases-announcements-e3s-pcgaming-show-130-pm-ct/#ixzz4BU6jrFFa
As the markets melted down even more since my last post, AMD bounced around some but there was solid support at $4.36. It was a decent gain considering the conditions today. Unless there is some negative news, I expect the price to climb from here with the right market conditions.
Not gonna lie, I was expecting a larger move with Lisa Su presenting at E3 today. Kind of disappointing IMO.
It would have been much bigger but you must consider how the markets melted down. It was a good sign that AMD closed up. I think Sony is scheduled tomorrow that may add to the cause. As far as Lisa Su goes she can only give out so much information as there are disclosures she has to honor that can not be compromised. Patience is needed for the next leg up. Remember the bullish pennant I posted prior to the last breakout? Well this is similar but it is a almost full Symmetrical Triangle that meets the criteria for a break-out and just like the the pennant it needs increased volume The symmetrical triangle, which can also be referred to as a coil, usually forms during a trend as a continuation pattern. The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as they are extended and the symmetrical triangle takes shape. You could also think of it as a contracting wedge, wide at the beginning and narrowing over time.
