I don't think there is anything wrong with AMD. Between February 2016 and February 2017 it rocketed from about $2 to $15.55; a 7 bagger in a year....dang....it needed to consolidate. The strong hands need to shake out the public holders and take back a controlling interest in the stock in order to shrink the supply of stock available for trading on the open market...only then can the price sustain a rally. It is currently in phase B of a trading range. Phase A was the phase that stopped the rally, from the Buying Climax (BC) through the Automatic Reaction (AR) to the Secondary Test (ST). Phase B is characterized by erratic moves where the Composite Man (CM- aggregate of big players) is working to either accumulate or distribute the stock. Since this came into the trading range from strength, from demand, one has to assume this is a re-accumulation range (the trend trumps all) unless proven otherwise. A proof otherwise would be a sign of weakness (SOW-big down bar on outstanding volume). On the weekly chart I don't see a SOW. Weekly chart as of Tuesday late morning
Consolidation phase for sure. Its nice that the crypto miners caused all that demand, but in that time AMD has stepped up with some really good products. So after the initial sell pressure here, we start seeing some true value emerge.
To me, it looks like AMD has finally found a bottom. Like @Onepoint272 mentioned above, the general public has closed their positions, and I'd expect to see the "big guys" loading up and driving this price point back towards $15 over the next few months. The stock is now oversold as well. Remember, all the negative news is about how mining will be slowing back down - what the analysts failed to mention is how AMD has taken over a large portion of the market share from NVDA and INTC over the last 1.5 years. They're in a lot of consoles now, CPU/GPU's are becoming popular again, they're taking server space back, etc. This stock was at $15 a few months back BEFORE mining blew up, so to think it needs mining to get back up there baffles me. I think the big guys applied lots of pressure to analysts, news companies, etc. to push this price down so they could get in for cheap. Manipulation at it's best. Everyone who's been following this stock for at least a year should be able to see that for themselves right now. Just my thoughts.
It appeared that Kyle Bennet, Editor-in-Chief at HardOCP, has been right all along. New Intel Core Processor Combines High-Performance CPU with Custom Discrete Graphics from AMD to Enable Sleeker, Thinner Devices https://newsroom.intel.com/editoria...nce-cpu-discrete-graphics-sleek-thin-devices/ AMD Delivers Semi-Custom Graphics Chip For New Intel Processor http://ir.amd.com/phoenix.zhtml?c=74093&p=irol-newsArticle&ID=2314568
AMD will supply the GPU for notebooks running on Intel chips. Game changer. AMD rose 7% yesterday. AMD and Intel GPU Deal Will Send AMD to $20
only bad news from here is the fact he went to Intel, which pretry much negates whatever the new partnership they have long term
I don't want to look at graphs, fundamentals, or tech plays. Someone knows something we don't. I'll trust management.
Where the largest amount of amateur traders are screaming and crying in pain, that's where the bottom and top of any stock always is.
Record breaking tech buyouts, historic partnerships, innovative and disruptive products in lucrative new markets. BULLISH AS HELL
