$AMD TOP 20
Added 2023-11-01 14:07:14 +0000 UTCA few heads dropped after the $AMD earnings and few people lost their cool and forgot the big picture......my job is becoming more and more of catching people from falling off the ledge instead of making charts and this is not what I want....you are in control of your emotions, I can not do this for you.
I have uploaded a number of books that will help people control their triggers and I highly recommend these, The Chimp Paradox being the most effective one.
Nice bounce at the opening for $AMD, the bounce has come on the 0.5 Fib too and has gone above the 200 Day MA, we can see clearly here that resistance has been met at the 50 Day MA, so maybe it will not happen today due Powell speaking later but we would like to see the price go above this level next and use this as a support level.
Guidance from their earnings for Q4 was range lowered but analysts came out this morning and still recommended a buy here but slightly lowered their price targets to around $135-$140.
A 40% jump from here will be more than acceptable until the next earnings report and this could be revised again.
$AMD produced a very professional earnings call yesterday and I believe they have been identified as a real contender to take market share from $NVDA. $NVDA's market cap is 9 times larger than $AMD.....so the market may feel they are undervalued compared to $NVDA here.
I will leave Wave C where it is for now because we need the price to go above the 50 Day MA and hold, otherwise there is always a risk of it coming back down to the 0.618 Fib.
