SpryGuy - Re: "Further to "But even more interesting to me is the 3 month chart, which suggests that when AMD closes above $60 (have to wait a little longer)a major price revaluation is very likely..." Current normal trading range is $54 to $60 +/- $1...Any close below $54 (I doubt that will happen)would signal a retest of the $48 to $50 support range...Any close above $60 is technically significant as it represents a close above the upper boundary of the 5 year trading range and would signal the onset of a new trading range between $60 and $100, with the test of the upper limit of $100 an outside possibility by April 20 as the confirmation of the paradigm shift would likely usher in the bandwagon effect with a succession of huge (i.e. 7 million plus) volume days. Minor resistance within this $60 to $100 range exists around $77... Although it may take April 12 earnings to set off a price explosion, it would not be surprising to see it occur well before that date. Anyone unconvinced of the underlying volatility of AMD needs look no further than the trading pattern exhibited since March 1. AMD has exhibited pricing instability since March 1, which in my experience, is a very definite precursor to a major and imminent (i.e within the next month) price change. Given AMD's strengthening fundamentals in Q1 compared to its record performance in Q4 (1 Gig Athy, GTW and HP as vendors, overseas sales strengthening and increasing availability of quality motherboards which presented a serious constraint in Q3 and Q4),an increase in eps over Q4's $0.43 would seem a certainty and consequently, the major and imminent price change is almost certain to occur on the upside...My crystal ball says that the positive AMD price trend which has seen AMD move from $17 to $55 in less than 5 months, a 300% move. is in no way diminishing, and could easily result in another 300% move from $55 to $165 over the next 5 months...It is within this context, and given Q1 earnings of $1.00 or more and reasonably stable markets in general,that a test of $100 by AMD by April 20 cannot be considered an impossibility! The next little while no doubt is destined to be full of excitement for AMD investors. I wouldn't want to be short AMD over the next month, and I'm not!"
Comment (1) Running your process in overtime tonight ?
Paul |
