Semiconductor maker Superior Micro Gadgets (AMD) issued a third-quarter income warning Thursday after the shut of buying and selling. Let’s test on the charts and indicators once more. Our final evaluation on September 27 was not encouraging.
Within the each day bar chart of AMD, under, we will see that the shares gapped decrease Friday morning and reached a brand new 52-week low. Costs stay in a downward pattern and commerce under the weak 50-day and 200-day transferring common strains.
The each day On-Steadiness-Quantity (OBV) line is pointed down as sellers of AMD have been extra lively on days when the inventory has closed decrease. The Transferring Common Convergence Divergence (MACD) oscillator is bearish however probably near a canopy shorts purchase sign.
Within the weekly Japanese candlestick chart of AMD, under, we see a bearish image. Costs stay in a longer-term downward pattern as they under the negatively sloped 40-week transferring common line. The weekly candles have but to indicate us a backside reversal sample. Potential chart help is just psychological as it’s so far again in historical past.
The OBV line is pointed down and the MACD oscillator is bearish.
On this each day Level and Determine chart of AMD, under, we will see a draw back value goal within the $52 space.
On this weekly Level and Determine chart of AMD, under, we will see that the software program is projecting a possible bearish goal within the $22 space — ouch.
Backside-line technique: Sadly I don’t (but) see the beginning of a bottoming course of on shares of AMD. Keep away from the lengthy aspect of the inventory as additional declines appear doubtless.