Whilst the main market settled moderately mixed, there was powerful strength in Advanced Micro Devices (AMD) which settled +10.6% at $13.98. Near term outlook offers a touch of cooling - not least if sp'2415/00, but broadly, the stock is set to break above the Feb'28th high of $15.55. From there, its a straight run to the psy level of $20.00.
Q1 earnings were a marginal miss, although the outlook was still positive. The downgrade - by none other than the infamous squid of GS, helped to grind the stock down to (almost) hit the 200dma in the upper $9s.
Since the May 3rd low of $9.85, price action has been very choppy, but leaning upward. We have a series of higher highs and higher lows. On any basis... its bullish.
Near term outlook does threaten some cooling, but anything <$12.00 - where the 50dma is lurking, looks out of range.
Next earnings are due July 31st. If they come in just marginally 'better than expected', the stock will be well into the 16/17s.
*for the record, if there is one company I think AAPL might buy.. it'd be AMD.