Technical analysis of the semiconductor sector via ETFs and several leading semiconductor stocks providing the near-term & longer-term outlook for the sector. Playback speed can be increased in the settings (1.25x or 1.5x) to reduce the duration of the video
Here are a few companies reporting earnings after the bell today that either have the potential to move the broad market tomorrow and/or might present a potential trading opportunity: AMD (Advance Micro Devices): One of the recent high-flying semiconductor & GPU manufacturers, currently poised to break above or below a triangle/consolidation pattern on the daily chart below. AMD daily July 25th X (US Steel): Parked at the bottom of a triple-gap resistance + downtrend line resistance. Any upside gap tomorrow would trigger a breakout above these intersecting resistance levels with the top of the most recent gap around 27.70 [...]
AMD (Advanced Micro Devices) has gapped down below the key 12.35 support level that I've been highlighting in recent weeks. With the 11.00 support level (60-minute chart) hit & the stock near-term oversold, we could see a bounce back towards the 12.35 level before the next leg down to the 9.30ish support level/target. Below are some of the daily charts of AMD recently posted on the front page or within the trading room. The 30% drop (so far) goes to show what happens to an over-loved, crowded one-sided trade, especially when the charts are flashing clear warning signs via [...]
Member @gonewiththewind requested an update on AMD (Advanced Micro Devices) within the trading room. As there has been a lot of interest in AMD in recent months, I figured that I'd post my thoughts on this runaway freight train semiconductor stock for those that are also following it. AMD is still inside the large bearish rising wedge (yellow lines) with negative divergences in place as shown on this daily chart below. Although the 60-minute charts might provide an early sell signal(s), the most reliable sell signal will come on an impulsive breakdown and/or daily close below this wedge. From the look [...]
The outlook for the semiconductor sector via analysis of the three main semiconductor ETFs: SMH, XSD & SOXX as well as the individual semiconductor stock holdings within SMH. Although AMD is not a component of SMH, I did cover the stock starting at the 5:45 mark as I've received several inquiries on it in the trading room recently not to mention it was an active trade until it exceeded the suggested stop yesterday.
This video starts with analysis on gold, silver, platinum & GDX, followed by coverage of the US stock market (via SPY, QQQ & IWM) various sectors & some of the recent trade ideas posted on Right Side Of The Chart.
The AMD (Advanced Micro Devices) Active Short Trade has hit the first target, 9.82, with a low of 9.81 so far today for a gain of 12.2% in exactly 2 weeks since entry. Consider booking partial or full profits and/or lowering your stop if holding out T2 or T3 (additional targets may still be added). Previous & updated 60-minute charts: