Home
News
- Advanced Micro Devices May see a strong growth in the future.It has seen a gain of 27% in the past few weeks
- AMD technical indicators are favoring the consolidated trend. It is currently near $73
Advanced micro devices has missed wall street expected earnings but has been able to maintain the revenue. The asset price has seen a gain of more than 27% in the past few weeks.It has not been tracking well as its declining earnings compared to other companies who performed average. Despite that the rise in the stock price has given a great relief to the investors. The P/E of the company is still high because some investors think that they can turn the poor earnings around. Despite the challenging Macro Environment for semiconductors the company has seen a 27% growth in revenue. The past three years has seen an excellent rise in P/E ratio for the company.
Bulls Of AMD Are On Sleep
The weekly technical chart of the AMD stock price suggests a downside momentum in price. On coming to the daily chart the asset price is currently trading near the value of $73 with a gain of 1.49%. The upside momentum of AMD can see a halt near $100. Meanwhile the support for the asset price can be seen near $50. The asset price is currently trading below the 100 and above 50 Daily Moving Average. If it jumps above 100 DMA then a strong upside momentum can be seen in the future.
Conclusion
AMD has seen a weak growth but the stock price has still managed to a gain. It is currently in a consolidated move but can see a new high in the future.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
