Special Offer Ends Soon!

“Underground” System Tracks Hidden Hedge Fund Trades

Millionaire Trader, Taylor Conway, creates Bloomberg scanner to track “Dark Pool” activity, opening the door for huge potential returns.

Learn how to position yourself for profit, before the markets move!

Is it time to buy Advanced Micro Devices (AMD)?

Avatar ·

The story: Advanced Micro Devices Inc (AMD) has been getting crushed since reporting disappointing guidance in October 2017. Although AMD beat Wall Street estimates, its 35% gross profit margin forecast for the fourth quarter was below some analyst estimates, and the stock plummeted as a result. AMD shares have continued lower, but the stock has yet to find support and create a new base.

The details: On the daily chart of AMD, the shorter-term moving average is crossing below longer-term moving-average lines. This is a bearish signal, and AMD looks like it has a lot of room lower.

AMD

The death cross is signaling that AMD could fall to $10, the stock’s next area of support. However, one could argue that AMD is just pulling back before it continues higher. The stock was up nearly 300% in 2016, and it’s up over 50% in the last 12 months.

How I’m playing it: Based on the charts and the room to fall, I’m not buying AMD just yet. Instead, I’ll wait for AMD to form a bottom and find some support, followed by a bullish pattern, such as a rounded bottom on the hourly chart, with the shorter-term moving averages crossing back above longer-term averages.

#-#-#

Petra Hess runs PetraPicks.com. She is a technical swing trader and long-term investor in domestic and Canadian stocks and ETFs. At the time this article was published on RagingBull.com, she had no positions, options or open orders in ADM.

Trending Now

Bull or Bear Market….It Doesn’t Matter

Kyle Dennis’ new, 5 min strategy is poised to double account sizes weekly! “I got out of GE trade at 379% $0.16-$0.77, thanks Kyle!” Said client Lance P. Check out the free training that started it all. (View Free Training)

SuperNova Service Leading Clients to 5-Figure Profits Consistently

“BOOM!!! Booked another $13,985 in profits on my long position $VMNGF. Great report came out premarket. Thanks Jeff at SuperNova for teaching me to make $$$ in the market.” Said Todd V. Jeff Williams is helping transform small accounts daily. Don’t miss his free walkthrough. (Watch Now)

Jeff Bishop, RagingBull.com Co-Founder, “Trading My Strategy Takes A Few Minutes a Day!” 

“Jeff, I have to say I was a little gun shy, but I bought the lifetime service (to Bullseye Trades) Friday night. First trade with your service…in LULU, 205 Calls at $4.70. (I) was going to be away from all internet connections for the next 3 days. It hit my sell price at $6.25 ;)” said James W.    (Read More)

Be a Better Stock Trader, Starting Today

Get the expert insights, tips and strategies you need to optimize your trading skills and profiles
START NOW