I apologize for the lack of articles the last week. A few articles should be out today. I have been mostly bed-ridden with lower back pains and had a MRI yesterday after my insurance finally approved it. The pain drugs are kicking in and I can move around again at least. So far this morning I can sit without pain...so let's roll....
Two weeks ago on July 25, 2017, Advanced Micro Devices (AMD) reported earnings. That evening, I posted a chart in the Idea Chamber talking of another double for AMD's share price over the next year. What happens next? Of course AMD sells off for the next two weeks. I usually don't comment on a stock's earnings movement until it has had a full day of trading. I wish I would have abided by my own rules and waited before making that comment. I did purchase shares the next day myself and have been underwater since.
This Advanced Micro Devices (AMD) post-earnings chart review and analysis will dive into the details of the "double" that I spoke of in the next year. Is it time to purchase more shares or time to bail on the trade? It's time to take a closer look and review Advanced Micro Devices (AMD) post-earnings sell-off.
Advanced Micro Devices (AMD) Post-Earnings Analysis
This first chart in this Advanced Micro Devices (AMD) post-earnings analysis is a 1 year daily candlestick chart. The chart has my typical 5 different simple moving averages overlaid on it. The $11.75 price level is a key area to hold from a moving average perspective. Any breach of that area on heavier than normal selling volume is a bearish sign.
This next week or activity for AMD should be very telling. If AMD continues its sell-off and …...
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Support areas for AMD's share price are reviewed as well as trading ideas based off of the support areas.
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