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AMD Stock Analysis After the Earnings Report

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In this video, we’re focusing on AMD, which recently reported its earnings, and the stock has experienced an impressive surge of 7%. It’s essential to evaluate the stock’s behavior and potential in light of these earnings.

Earnings Report Overview

AMD reported its earnings, which surpassed expectations, triggering a 7% increase in its stock price. Although the earnings and revenues are promising, we’re more interested in understanding how the stock is reacting.

Market Overview

Notably, AMD isn’t the only tech stock experiencing gains; competitors like Intel and Nvidia are also on the rise. It’s a sea of green in the market, reflecting strong performance among these companies.

Technical Analysis

Let’s dive into the technical analysis of AMD. The chart shows a descending trendline or channel. This pattern may suggest the potential for an ABCD price movement, with the D leg pointing upward. The stock is breaking out of the descending channel, which is a significant development.

Earnings and Sales

The earnings report reveals AMD’s positive performance. It surpassed earnings estimates, which is promising. While the Q4 guidance might not be perfect, the overall trend is in the right direction. The report indicates strong sales, emphasizing AMD’s growth and consumer demand.

Chart Analysis

The descending trendline is notable as it sets up the possibility of an ABCD pattern, particularly the D leg, which could lead to substantial upward movement. The historical highs serve as reference points for future potential price targets.

Trading Strategy

Given the stock’s significant 7% increase, it’s essential not to chase the stock at these levels. Instead, consider a more cautious approach, perhaps nibbling into the position. This strategy allows you to enter the trade without overcommitting while still benefiting from potential upside.

Critical Levels

The stock has been consolidating for nearly five months, which can indicate a strong buying opportunity. The fact that the consolidation didn’t result in a sharp selloff suggests the stock’s resilience.

Keep an eye on resistance levels and monitor volume. If the stock continues to show momentum and a significant volume increase, it could indicate a strong bullish move.

Conclusion

AMD’s post-earnings performance is impressive, and the technical analysis suggests a potential breakout. The stock has held up well during a consolidation phase, indicating resilience and a possible upward movement.

While the earnings numbers are promising, the stock’s behavior and chart patterns are equally essential. Maintain a cautious approach when considering an entry point, especially after a substantial gain.

If you’re interested in delving deeper into technical analysis, I encourage you to explore our “Technical Analysis Course.” Additionally, our website offers a range of valuable resources and webinars for further insights.

Thank you for your support, comments, and interactions on social media platforms. I look forward to sharing more insights in the next video. Take care!

In this class we will focus at looking at the technicals, learning about charts, how to check for support resistance, strength of the move, indicators, understanding price movements, ABCD patterns, and more! Ready to take your technical analysis to the next level? ​

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