AMD earnings play
AMD's chart looks to be forming a possible bull flag. With earnings coming up, I think there is a possibility for AMD to touch ~74 as support, but has a chance to possible gap with positive earnings outlook. Further down trend for the rest of this week possibly confirmed by MACD chart as well, along with bear engulfing candle last week.
With the upcoming releases and sales of XBOX and Playstation (both consoles use AMD chips) I think this can improve their outlook for next quarter, along with the release of Ryzen 5000 chip.
With the upcoming releases and sales of XBOX and Playstation (both consoles use AMD chips) I think this can improve their outlook for next quarter, along with the release of Ryzen 5000 chip.
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