top of page
  • Writer's pictureT. Livingston

$AMD Excellent Looking Chart

Advanced Micro Devices, ($AMD), is a stock that in this trader's eyes is a thing of beauty! On the daily chart, I really like the relatively calm action the last month. There was one day where it briefly lost the 50-day moving average, but it turned out to be a hammer candle. I love this action as it flushes out weak hands. Today, we saw a 6% move off the 50-day on heavy volume. In addition to finding support at the 50-day moving average, AMD's RSI was recently at the 50 level which is often a support level for growth stocks. MACD also looks good as it is starting to turn up.

The weekly chart is also very constructive. We have seen some very tight action on low volume the past four weeks with the 10-week moving average close by. In addition, AMD held up really well in March, never closing below the 40-week moving average while the S&P 500 fell rapidly.

Full Disclosure: AMD is a stock I currently own.

Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.

1 Comment

Commenting has been turned off.
Jun 13, 2020

hopefully the 50-day moving average will hold

bottom of page