From Albert:
08:26pm EDT 18-Apr-00 E*OFFERING (Mike Hurley (415) 618-6200) AMD
Tech Take: Advanced Micro Devices, Inc. (AMD)--Marching Forward
E*OFFERING April 19, 2000
The Investment Bank of E*TRADE
Mike Hurley research@eoffering.com
Principal and Technical Analyst www.eoffering.com
Tech Take
Advanced Micro Devices, Inc. (AMD)--Marching Forward
Venturing into a new high territory today was Advanced Micro Devices, a stock
that has been exhibiting tremendous relative strength for months. Relative
strength is one of our favorite technical tools, and one that is particularly
valuable during market turmoil.
We last featured AMD on March 21st, when it rallied nearly 8% on another weak
day for technology (see "Advanced Micro Devices, Inc. (AMD)--Ready to
Advance?"). The stock has continued to outperform the PHLX Semiconductor Index
(A), which has itself been a leader within technology overall.
Technically speaking, AMD's internals remain strong, as they were in March. On
Balance Volume is reaching a new high (B), showing that the stock has actually
seen net accumulation throughout the market's recent slump. Additionally, the
MACD Histogram shows there was a great deal of upside momentum on the early
April rally (C).
Mike Hurley
Principal and Technical Analyst
Mike Hurley is the Technical Analyst at E*OFFERING, having joined the firm in
June of 1999. With over 15 years of experience in the investment markets, Mike
provides cutting-edge technical insight in the form of both weekly market
commentaries and daily trading ideas. Prior to joining E*OFFERING, Mike was the
Technical Analyst for Preferred Capital Markets, a San Francisco-based,
research-driven brokerage firm. He has also served as the featured market
commentator for The Daily Rocket, a Barron's rated top 10 investment website, as
well as an independent newsletter publisher. Currently, Mike sits on the board
of the Technical Security Analysts Association of San Francisco, and is a
regular guest/source for many media interests including CNBC, Dow Jones, and
Bloomberg. |
