Chart of the Day: AMD Proves Its Worth
Another solid breakout on big volume has this semiconductor stock poised for a bigger move.
You've reached your free article limit
You've read 0 of 1 free Pro articles.
Advanced Micro Devices (AMD) was recently added to the Pro Portfolio, as part of the reconstituted EPS All-Stars basket. This company has recently traced a stellar track record, with higher highs and higher lows following a long basing period. The candles are blue, indicating strong buy signals on the GoNoGo composite of indicators. MACD is also on a strong buy signal and look at that money flow, nothing better at the moment.
Can the momentum continue higher? We think so, as the company is really pushing the limits of AI and chips. AMD is second to Nvidia (NVDA), but there seems to be enough business to go around, and with strong earnings to support the stock every dip is a potential buying opportunity.
Relative strength is moving upward, the strength of the trend (ADX) is powerful and volume trends are bullish. Earnings will be out later this month and it will be interesting to see how the stock responds after a strong rally in September.
As a member of the EPS All-Stars, AMD does not have a rating.
More Pro Portfolio:
- We’re Adding to This Holding After Averted Strike and Multiple Wins
- 26 Signals Across 9 Portfolio Themes
- Weekly Roundup: Waiting for the Market to Show Its Hand
At the time of publication, TheStreet Pro Portfolio was long AMD and NVDA.
