Monday, 17 April 2017

AMD - battling to stabilise

Whilst the main market saw a day of broad gains, there was significant strength in Advanced Micro Devices (AMD), which settled +3.9% at $12.78. However, the stock is still in the early phase of trying to stabilise after the recent 'Goldman inspired' smackdown from the $14.70s.

AMD, daily

AMD, monthly


Suffice to add, a cloud hangs over the stock, primarily as a result of the Goldman Sachs sell rating ($11.00).

Even if the main market can claw upward into early May, AMD will struggle just to get back to the $14.00 threshold.

AMD has a lot to prove, earnings had better be at least 'reasonable', or worse case, the stock will duly implode to the 200dma - which in early May.. will be in the mid $9s.

*earnings are due Thursday, May 4th in AH.

CORRECTION (April 19th)... earnings due Mon' May 1'st in AH.

Thanks to TWTR user: