Advanced Micro Devices, Inc. (NASDAQ:AMD) HEFFX Highlights

Advanced Micro Devices, Inc. (NASDAQ:AMD) HEFFX Highlights

Advanced Micro Devices, Inc. (NASDAQ:AMD) HEFFX Highlights

Advanced Micro Devices (AMD) Gains 6% as Cryptocurrency Demand Grows

Cryptocurrency mining demand sharply reverses desktop GPU sales trends in 2Q17; AMD and NVIDIA are now on allocation.

Meetings with desktop graphics card manufacturers indicated a sharp reversal in sales trends expected for the seasonally weaker 2Q, with surging demand from cryptocurrency miners in China and Eastern Europe since early May now expected to drive 10-20% q/q unit sales growth this quarter, up significantly from prior forecasts for a 10-15% q/q decline.

AMD has an “Epyc” day, but most other area stocks falter

AMD rose almost 6 percent to close at $12.34 a share, after the chipmaker unveiled its new line of Epyc processors to rave reviews, and expectations that new semiconductors give AMD a strong position against Intel and its Xeon chips used in data centers and for high-end business computing systems.

Advanced Micro Devices, Inc. is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as standalone devices or as incorporated into an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics, and server and embedded processors and semi-custom System-on-Chip (SoC) products and technology for game consoles. The Company’s segments include the Computing and Graphics segment, and the Enterprise, Embedded and Semi-Custom segment. The Computing and Graphics segment primarily includes desktop and notebook processors and chipsets, discrete GPUs and professional graphics. The Enterprise, Embedded and Semi-Custom segment primarily includes server and embedded processors, semi-custom SoC products, development services, technology for game consoles and licensing portions of its intellectual property portfolio.

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

 

The projected upper bound is: 14.50.

The projected lower bound is: 10.74.

The projected closing price is: 12.62.

ADV MICRO DEVICE closed up 0.710 at 12.640. Volume was 65% above average (neutral) and Bollinger Bands were 22% narrower than normal.

Open       High         Low         Close       Volume
12.190     12.930     12.180     12.640     118,001,536

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period       50-period       200-period
Close:                       12.09               11.84               10.53
Volatility:                63                    100                  80
Volume:                  97,421,952     70,616,672     60,632,560

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

ADV MICRO DEVICE gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
ADV MICRO DEVICE is currently 20.1% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of AMD.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on AMD.O and have had this outlook for the last 10 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 55.8686. This is not an overbought or oversold reading. The last signal was a buy 1 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 59.63. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 28 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 107.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 6 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 0 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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