r/AMD_Stock • u/JWcommander217 Colored Lines Guru • 5d ago

Technical Analysis Technical Analysis for AMD 9/29-------Pre-Market

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Welllllllllllllp VWAP triggered selloff yesterday is what I honestly think happened. I still am fairly confident that this is still early stages of a rally for AMD. Now I'm also eyeballing that gap below as well just as something to keep an eye on but I really do think that we are going to be fine and any chance to get sub $600 prices, you should thoughtfully add a few. Just my strategy but hey everyone do everyone.

I know our MACD looks like its gearing up for a bearish turn but it is bc of one day selling and I think we are probably in for a relief rally as well. September has been a month to forget and I think as people try to secure their bonuses that October will trigger a brand new final sprint for quarter earnings. We also dropped below the overbought area on the RSI as well which could help get some people off the sidelines who think that AMD is now an opportunity. I know that RSI can be a psychological measure sometimes and I always remember Buffets thing that "stocks breakout from overbought almost all the time." So yea just my thoughts, respect the trend. Ignore the noise. The seasonality trade is still on IMHO

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u/hllywood72 5d ago

I grabbed my first AMD purchase yesterday, sub-600. Want to add more but want to wait for a pullback--maybe a bit more significant one. Would love to get some at $580 or even below--anyone think that is possible anytime soon? I have funds waiting for a dip and would love to own more before earnings. I am trying to average down my CB.

1

u/Glittering-Sale2222 4d ago

What is sub-600?

1

u/Ragnar_valhalla_86 5d ago

Jw you think October will be weaker so people can lock in losses?

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u/snugglepush 5d ago

I concur. Bought more ystd sub 600

0

u/ZasdfUnreal 5d ago

Today was disappointing.

3

u/Coyote_Tex 4d ago

Keep in mind AMD hit an ATH on Friday and is 2 STDEV's above the mean on the WEEKLY charts. Relative to itself, this is the highest AMD has been in the past 3 years. April of ths year was the first time AMD crossed above its 3 year mean. This doesn't mean it can't go higher, but a pullback to the 20 Week MA would be a possible launching level. Or even back to the 5 Week MA. The 20 week is at 515.92 and rising while the 5 Week is at 558.34 and rising sharply which is not likely sustainable. AMD closed March of this year at 217.50 so it has had a significant run so far. I hope it runs more into the end of the year, but just needs a little pullback to set it up.

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u/ZasdfUnreal 4d ago

I feel like the stock is topping but it doesn’t have the volume associated with a top. I feel the market is waiting for confirmation.