Advanced Micro Devices (AMD) – Semiconductors in Demand – June 26th, 2020
The bullish DailyPlay for Thursday, June 26th is Advanced Micro Devices Inc (AMD). AMD has experienced a 1.5% decline over the past month and its 1M trend turned bearish on June 24th. Price has currently been ranging between $49 and $59 over the past few weeks and is currently at the lower end of the range providing a good bullish opportunity.
- Earnings growth- forecast of 36% in 2020 after 78% growth in 2019
- Strong market share growth in CPU, GPU and server chips
- Earnings July 28 (33 days)
- Holding major support at $52 provides attractive risk/reward for long
- Very strong technical strength score – 9 (out of 10)
- Short term oversold with neutral 6M trends