AMD Showing Bullish Signs of Major Potential Breakout
$AMD ate a rough correction (outlined in the previous descending channel) before catching a wedge that shows all the signs of a major breakout. The downward trough also established a lot of relative strength in this stock. It refused to dip lower than its previous relative-low.
This stock ranks a perfect 99 on Investor Business Daily's stock evaluation, and it gained well yesterday in a rougher day for the overall market. Its fundamental stats all scream good things: 0,75 EPS and a P/E of 52.12. The P/E seems somewhat high, but it is likely indicative of the upcoming earnings (on February 2nd) report anticipated to be a great one.
Note the NEW strong (VERY STRONG) ascending trade channel.
Next: Target take-profit points?
We are tentatively eyeing 98.5 per share as a 1/2 profit snatch; the latter should loom around 100-102.
That said, a mega-long-term hold of AMD also makes sense, if that's your cup of tea. Regardless of approach, this stock is showing all bullish indications of having a quite big week.
GL etc etc
-BDR
This stock ranks a perfect 99 on Investor Business Daily's stock evaluation, and it gained well yesterday in a rougher day for the overall market. Its fundamental stats all scream good things: 0,75 EPS and a P/E of 52.12. The P/E seems somewhat high, but it is likely indicative of the upcoming earnings (on February 2nd) report anticipated to be a great one.
Note the NEW strong (VERY STRONG) ascending trade channel.
Next: Target take-profit points?
We are tentatively eyeing 98.5 per share as a 1/2 profit snatch; the latter should loom around 100-102.
That said, a mega-long-term hold of AMD also makes sense, if that's your cup of tea. Regardless of approach, this stock is showing all bullish indications of having a quite big week.
GL etc etc
-BDR
