Semiconductor maker Innovative Micro Units (AMD) issued a third-quarter income warning Thursday just after the shut of investing. Let us examine on the charts and indicators all over again. Our past assessment on September 27 was not encouraging.
In the day by day bar chart of AMD, under, we can see that the shares gapped decreased Friday early morning and attained a new 52-7 days low. Price ranges continue being in a downward craze and trade beneath the weak 50-working day and 200-day shifting normal traces.
The day by day On-Equilibrium-Volume (OBV) line is pointed down as sellers of AMD have been far more active on days when the stock has shut decreased. The Going Common Convergence Divergence (MACD) oscillator is bearish but likely shut to a protect shorts acquire sign.
In the weekly Japanese candlestick chart of AMD, under, we see a bearish picture. Selling prices continue being in a extended-term downward craze as they beneath the negatively sloped 40-week shifting regular line. The weekly candles have nevertheless to demonstrate us a base reversal sample. Prospective chart help is only psychological as it is so much again in record.
The OBV line is pointed down and the MACD oscillator is bearish.
In this each day Place and Figure chart of AMD, underneath, we can see a downside cost focus on in the $52 spot.
In this weekly Place and Figure chart of AMD, below, we can see that the software program is projecting a likely bearish goal in the $22 area — ouch.
Bottom-line tactic: Unfortunately I do not (yet) see the start of a bottoming system on shares of AMD. Prevent the very long aspect of the stock as more declines look most likely.
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