Bought AMD shares today at the close at $4.35.
- Optimism gained back again for AMD after the European Union imposed fines that could reach as high as $4 billion on anti-competition measures.
- More than the dollar amount, the order could force Intel to change the way its marketing affairs are conducted.
- On top of that Intel has recently reported a lost of 4.7% market share to land at 77.3% in Q1 2009. While AMD picked up 4.6% to land at 22.3% a share.
- Thus to my surprise as well, AMD remains a strong competitor even while Intel is launching one strong product after another.
Technicals
Volume confirmed the break out on May 4th, 2009 beyond the $3.87 critical resistance level. Slight pullback occurred on the intraday today managed to gain above previous day’s highs showing a favorable bullish signal. For now, target price $5.30.
Source: FOX Business & Fool.com
1 comments:
AMD closed above 10 month EMA this month for first time since May 2006. 10 month EMA is good long term trend indicator. AMD sorta came back from the dead, not all stocks regain the 10 month EMA once they have broken through.
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