{"id":1474,"date":"2023-02-02T10:35:14","date_gmt":"2023-02-02T10:35:14","guid":{"rendered":"https:\/\/tradersontrend.com\/?p=1474"},"modified":"2023-02-02T10:35:14","modified_gmt":"2023-02-02T10:35:14","slug":"major-breakout-for-amd-after-huge-earnings-report","status":"publish","type":"post","link":"https:\/\/tradersontrend.com\/h\/2023\/02\/02\/major-breakout-for-amd-after-huge-earnings-report\/","title":{"rendered":"AMD Stock Breaks Through $80 Mark, Bulls Eye $85 &#038; $90+"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1474\" class=\"elementor elementor-1474\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3f3bd3ef elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3f3bd3ef\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-40a51cd4\" data-id=\"40a51cd4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4f7f4687 elementor-widget elementor-widget-text-editor\" data-id=\"4f7f4687\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 26-05-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><a href=\"https:\/\/www.google.com\/finance\/quote\/AMD:NASDAQ\">Advanced Micro Devices (AMD) stock<\/a> is surging higher on Wednesday, up more than 12%.<br \/><br \/><span style=\"font-family: inherit;\">Long investors can breathe a sigh of relief following the <\/span><a style=\"font-family: inherit;\" href=\"https:\/\/ir.amd.com\/news-events\/press-releases\/detail\/1115\/amd-reports-fourth-quarter-and-full-year-2022-financial\">earnings release<\/a><span style=\"font-family: inherit;\">, not just because of Intel&#8217;s (<\/span><a style=\"font-family: inherit;\" href=\"https:\/\/www.google.com\/finance\/quote\/INTC:NASDAQ\">INTC<\/a><span style=\"font-family: inherit;\">) disappointing update, but also because AMD shares were only modestly higher in after-hours trading last night.<\/span><\/p><p>Advanced Micro Devices posted a slight top- and bottom-line beat, and while its sales projection for the following quarter was a touch light compared to expectations, investors approved.<\/p><p>I&#8217;ll say it again: Wall Street appears to be giving firms a pass on earnings right now, punishing only the genuinely terrible quarters. As long as the results are within expectations, the reaction appears to be relief more than anything else.<\/p><p>For what it&#8217;s worth, Nvidia (<a href=\"https:\/\/www.google.com\/finance\/quote\/NVDA:NASDAQ\">NVDA<\/a>) stock is also reacting positively to AMD&#8217;s results. At Wednesday&#8217;s peak, the graphics chip specialist&#8217;s stock was up around 3.5%.<br \/><br \/><strong><span style=\"font-size: 24.5px; font-family: inherit;\">AMD Stock Trading Based on Earnings<br \/><br \/><\/span><\/strong><span style=\"font-family: inherit;\">AMD stock is doing an excellent job of breaking through the $80 mark. This zone is crucial since it represents key fourth-quarter resistance, the 50% retracement of the broader range, and the dropping 200-day moving average.<\/span><\/p><p>But \u2014 and there&#8217;s always a but \u2014 we have the Fed on Wednesday and Big Tech results on Thursday.<\/p><p>If AMD can sustain price levels above $80, it will be a significant step forward for the bulls. It opens the way to the $85 level, which contains the stock&#8217;s 61.8% retracement and sliding 50-week moving average.<br \/><br \/><strong><span style=\"font-size: 24.5px; font-family: inherit;\">Above that, $90-Plus is in Play.<br \/><br \/><\/span><\/strong><span style=\"font-family: inherit;\">A negative reversal from here would be disastrous, establishing $80 as a barrier until proven differently.<\/span><\/p><p>The <a href=\"https:\/\/www.investopedia.com\/articles\/trading\/05\/playinggaps.asp\">gap-fill<\/a> after earnings is $75.20. While bulls do not want to see a retreat to this level after such a strong first reaction to earnings, AMD stock is still technically sound as long as it holds the gap-fill and the 10-day moving average.<\/p><p>If it falls below $72.50, the 50-day and 21-day moving averages will come into play. <br \/><br \/>Below these levels, the movement gets much more bearish.<\/p><p>AMD is a high-quality chip stock that saw a severe peak-to-trough collapse in 2022, plummeting more than 66% from its highs. <br \/><br \/>It&#8217;s now attempting to surge higher, and the bulls are gaining ground. The rest of this week&#8217;s trading will be crucial.<\/p><p><em>For More Stocks And Investment Related News, Click\u00a0<a href=\"https:\/\/tradersontrend.com\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/tradersontrend.com\/&amp;source=gmail&amp;ust=1675413875403000&amp;usg=AOvVaw2YudYkVctFrvfLl1jMp15E\">Here<\/a>.<\/em><\/p><p>\u00a0<\/p><p>\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Advanced Micro Devices (AMD) stock is surging higher on Wednesday, up more than 12%. Long investors can breathe a sigh of relief following the earnings release, not just because of Intel&#8217;s (INTC) disappointing update, but also because AMD shares were only modestly higher in after-hours trading last night. Advanced Micro Devices posted a slight top-&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[12,32,315,431],"class_list":["post-1474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsletter","tag-advanced-micro-devices","tag-amd","tag-intc","tag-nvda"],"_links":{"self":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts\/1474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/comments?post=1474"}],"version-history":[{"count":0,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts\/1474\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/media\/1475"}],"wp:attachment":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/media?parent=1474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/categories?post=1474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/tags?post=1474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}