Not a good set-up for me yet. It broke above the downtrend channel, morphing into a trading range (TR) but since supply is in the background (the downtrend) it needs to prove to me that demand is present in the right-hand side of the TR (right of the secondary test (ST)). This morning, it tested that axis line and the selling climax (SC) bar on lighter volume and then went up to find willing sellers, but got stalled at the top of the TR. It could be absorption (CM absorbing sellers) but since it needs to show demand and the low volume does not show strong demand, I think it is a case of lack of demand and phase B of the TR will continue and it will test lower. Since supply is in the background it can just drift lower. However if it tests lower with some sort of capitulating stopping action or the supply dies on the vine, then I'm in, or I'm wrong, whatever, there's always another trade. 30-minute bars: More on this here: https://stockaholics.net/threads/a-wyckoff-student-notebook.804/page-55#post-156531
I bot some AH today. If I had been able to watch it this morning I would have bought about 30 minutes into the trading session when that intra-day SOS became evident. See charts here: https://stockaholics.net/threads/a-wyckoff-student-notebook.804/page-55#post-156661
Stopped out of initial position of AMD. Waiting for a test and spring of the Aug 10th swing low to try again.
Bounced off the $110 area. GPU makers are still in a sweet spot, supply of chips being the only constraint as GPUs still getting top shelf prices way above MRSP in all stores. NVDA same.
AMD has some strong kung fu with their Zen 4 architecture. This is a significant step forward. Their mid term success will revolve around how aggressively they price Zen 4 parts. Personally, I think there is more up side with DDR5 RAM manufacturers, now that it's a whole new ballgame.
Seems like this is true for the industry in general...too vital and too much pricing power for it to be otherwise.
There are so many gamers who have been waiting for 2yrs now to get some reasonable prices on GPUs, sales are going to be good unless inflation keeps being bad.
I actually added AMD to my "Watch," list on Friday. I like them as a long-term play. I am sticking with my current strategy which is to keep all my chips off the table right now except the occasional day-trade. With things the way they are, I am really not holding anything longer than 24-48 hours
Nice move here. There are some nice price cuts coming to existing AMD CPUs this month, and the news chips are looking amazing!
Is anyone concerned about Google getting into the server CPU space in a year or two? I don't know if Google will sell servers retail but even just losing the Google server allocations from server chip sales will be a bit of a hit. I suspect this isn't existential but something to keep an eye on. Opinions?
I will mention that AMD dominates mind share in Southeast Asia. We have been floating around this area for a while and all we see at computer fairs, stores, malls, etc. is AMD signage. At electronics malls, the laptops are almost exclusively AMD. It was that way in Japan, Malaysia, and Singapore. I don't know about Hong Kong, yet....
