There's plenty to look at for AMD at the moment and definitely not the fundamentals. In a fragile moment of the market, AMD's stock found a strong surge after a while of relative saturation. The question is : is this surge sustainable?
I believe we have hot the maximum for this year in the past few weeks and here are the reasons:
* Crash or not, the market is saturating. I don't see big further gains in stocks for the rest of the year, especially Tech. In short, the sector is over bloated.
* The volume increase indicates a pulse rather than a build up. It is similar to the last highlighted peak in September 2018 in terms of volume. The profiling POC is deep low, which further indicates that the pulls will not be sustainable.
* Different from the last peak of September 2018 is the ADX indicator. Back then, it reconciled with RSI at the top indicating an almost certain turnover. Here, ADX is relatively low, which might sound bullish. However, when juxtaposed with the volume, it shows that this latest bullishness is short lived.
Eventually, if the market doesn't crash soon, it won;t lose much ground, staying more or less in the upper channel shown. I suspect the price would fall up to 90, resting around 100.
I believe we have hot the maximum for this year in the past few weeks and here are the reasons:
* Crash or not, the market is saturating. I don't see big further gains in stocks for the rest of the year, especially Tech. In short, the sector is over bloated.
* The volume increase indicates a pulse rather than a build up. It is similar to the last highlighted peak in September 2018 in terms of volume. The profiling POC is deep low, which further indicates that the pulls will not be sustainable.
* Different from the last peak of September 2018 is the ADX indicator. Back then, it reconciled with RSI at the top indicating an almost certain turnover. Here, ADX is relatively low, which might sound bullish. However, when juxtaposed with the volume, it shows that this latest bullishness is short lived.
Eventually, if the market doesn't crash soon, it won;t lose much ground, staying more or less in the upper channel shown. I suspect the price would fall up to 90, resting around 100.