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Advanced Micro Devices – AMD – Slowly Building Potential Breakout or Breakdown From Lower High?

Advanced Micro Devices (AMD) captured my attention again in light of Nvidia (NVDA) and Applied Materials (AMAT) earnings Thursday night. AMD has been trading just below a trendline going back to 2018 highs, with price action above all moving averages.

Advanced Micro Devices Inc., the second-largest maker of computer processors, reported fourth-quarter profit that met analysts’ estimates and gave a rosy outlook for 2019 revenue, relieving concerns that the chipmaker would fare worse after rivals’ disappointing results.” – Bloomberg

AMD Thoughts for a Trade

The recent fade was on lower volume, exactly what a bullish stock should do as the remaining sellers dissipate. If RSI stays above 50 it suggests the current bullish trend will support occasional pullbacks in price action – “on lower volume”. Price action remains above the 20/50/200d.




“The computing and graphics business posted sales of $986 million in the fourth quarter, up 9 percent from a year earlier, driven mainly by AMD’s Ryzen computer processors and data-center chips. The company is trying to make a comeback in server processors against Intel, an opponent that has about 99 percent of the market. At its peak, more than a decade ago, AMD owned about a quarter of that lucrative business.” – Bloomberg

We’ll look for bullish continuation if the stock moves above 23.90. If AMD trades below 22.20 short-term, look for a bearish trade back to support. Higher volume would emphasize either directional trade.


These five (5) stocks are leading the Nasdaq 100 this morning. Look for NVDA and XLNX to stay at the top today.


NDX100 Top 5


Join us today in the trading room for our LIVESTREAM broadcast during market hours, as we trade AMD and other new positions. Watch, listen and trade from 9:20 AM to 4:15 PM Monday through Friday.

Happy Trading,


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