AMD Is a Stock to Buy on the Dip - Here’s Why

TheStreet2021-03-16

Like other tech stocks, Advanced Micro Devices (AMD) hasn't fared too well lately. Although it’s held up better than some of its high-growth peers, AMD hasn’t been immune to the decline in tech stocks...

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Comments

Acella
2021-03-16
Acella
I like amd!
- Acella:
  hi 5!
- ChenJing4826:
  me too?
Deont
2021-03-16
Deont
Yeah!
- Deont:
  Yea
- JaNice:
  Yea
Sing2me
2021-03-16
Sing2me
Comment & like pls
- Acella:
  ?
LACS
2021-03-16
LACS
Buy buybuy
Tyh
2021-03-16
Tyh
Good read
RonnieSG
2021-03-16
RonnieSG
Timely, have been expecting it

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Shares of AMD fell 25.5% from peak to their recent trough, which is about in-line with Nvidia’s (NVDA)  recent slide.\nI liked Nvidia on the dip and because both companies have great fundamentals I like AMD on the dip too.\nSo far, shares have been rallying nicely off last week’s low. Let’s take a closer look at the chart to see what the damage is.\nTrading AMD\nDaily chart of AMD stock.\nEarlier in the year, AMD looked set to test $100 and potentially break out over this mark.\nInstead, it kept finding sellers on each rally, even as the $87 level was acting as support along with the 100-day moving average.\nUltimately these levels failed as support, with shares flushing down to the 200-day moving average.\nIt wasn’t necessarily wrong for investors to expect the 200-day moving average to be support. However, with rising interest rates driving the narrative, tech stocks were under heavy pressure.\nOnce this level failed for AMD, it looked dicey. That is, unless you were looking at multiple timeframes.\nAMD stock traded down perfectly to range support near $74, as well as the 50-week moving average. It bounced from this level on Friday March 5th and closed at it on Monday March 8th. Since then, it’s been enjoying a strong rally.\nFrom here, we have to see how the stock handles its 100-day moving average and the $87 level. These prior measures were support. If they are reclaimed, they can again act as support.\nHowever, if they are resistance, AMD stock may need more time to consolidate.\nOn the downside, let’s see if shares can stay above the 200-day moving average. If the stock can do so, it’s likely a buyable dip. Below it puts the 50-week moving average in play.\nEven though I don't know if $78 or $88 is next, I like AMD stock for the long term. It has too many catalysts to ignore.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":325118783,"gmtCreate":1615874405942,"gmtModify":1704787776882,"author":{"id":"3563150446821026","authorId":"3563150446821026","name":"Acella","avatar":"https://static.tigerbbs.com/2712c4bb0bfbec4d2773e012189db3bc","vip":1,"crmLevel":9,"crmLevelSwitch":1,"idStr":"3563150446821026","authorIdStr":"3563150446821026"},"htmlText":"I like amd!","listText":"I like amd!","text":"I like amd!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/325118783","repostId":1130810138,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3808484,"gmtCreate":1615897611689,"gmtModify":1680780573234,"authorId":3563150446821026,"author":{"id":3563150446821026,"idStr":"3563150446821026","authorId":3563150446821026,"name":"Acella","avatar":"https://static.tigerbbs.com/2712c4bb0bfbec4d2773e012189db3bc","vip":1,"crmLevel":9,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":325118783,"type":1,"supId":3806028,"prevId":0,"content":"hi 5!","text":"hi 5!","html":"hi 5!"},{"id":3806028,"gmtCreate":1615877194348,"gmtModify":1680780541059,"authorId":3560490484138250,"author":{"id":3560490484138250,"idStr":"3560490484138250","authorId":3560490484138250,"name":"ChenJing4826","avatar":"https://community-static.tradeup.com/news/0ecdd4802b5a32229112cedb22a833ba","vip":1,"currentWearingBadge":{"badgeId":"7a9f168ff73447fe856ed6c938b61789-1","templateUuid":"7a9f168ff73447fe856ed6c938b61789","name":"Knowledgeable Investor","description":"Traded more than 10 stocks","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1102},"crmLevel":8,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":325118783,"type":1,"supId":0,"prevId":0,"content":"me too?","text":"me too?","html":"me too?"}],"langContent":"EN"},{"id":325315558,"gmtCreate":1615864241874,"gmtModify":1704787639640,"author":{"id":"3572949737859102","authorId":"3572949737859102","name":"Deont","avatar":"https://static.tigerbbs.com/b69cb3aef6e3479f1dd8cb3e0eda4f60","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3572949737859102","authorIdStr":"3572949737859102"},"htmlText":"Yeah!","listText":"Yeah!","text":"Yeah!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/325315558","repostId":1130810138,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3804880,"gmtCreate":1615864613969,"gmtModify":1680780520873,"authorId":3572949737859102,"author":{"id":3572949737859102,"idStr":"3572949737859102","authorId":3572949737859102,"name":"Deont","avatar":"https://static.tigerbbs.com/b69cb3aef6e3479f1dd8cb3e0eda4f60","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":325315558,"type":1,"supId":3804840,"prevId":0,"content":"Yea","text":"Yea","html":"Yea"},{"id":3804840,"gmtCreate":1615864399057,"gmtModify":1680780518718,"authorId":3574939383328580,"author":{"id":3574939383328580,"idStr":"3574939383328580","authorId":3574939383328580,"name":"JaNice","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":325315558,"type":1,"supId":0,"prevId":0,"content":"Yea","text":"Yea","html":"Yea"}],"langContent":"EN"},{"id":325302456,"gmtCreate":1615861688175,"gmtModify":1704787597579,"author":{"id":"3571448024288156","authorId":"3571448024288156","name":"Sing2me","avatar":"https://static.tigerbbs.com/f485854808e05893440cba75ca2a8b6a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3571448024288156","authorIdStr":"3571448024288156"},"htmlText":"Comment &amp; like pls","listText":"Comment &amp; like pls","text":"Comment & like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/325302456","repostId":1130810138,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3805839,"gmtCreate":1615874365603,"gmtModify":1680780536599,"authorId":3563150446821026,"author":{"id":3563150446821026,"idStr":"3563150446821026","authorId":3563150446821026,"name":"Acella","avatar":"https://static.tigerbbs.com/2712c4bb0bfbec4d2773e012189db3bc","vip":1,"crmLevel":9,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":325302456,"type":1,"supId":0,"prevId":0,"content":"?","text":"?","html":"?"}],"langContent":"EN"},{"id":325974408,"gmtCreate":1615860872904,"gmtModify":1704787586002,"author":{"id":"3567759391330726","authorId":"3567759391330726","name":"LACS","avatar":"https://static.tigerbbs.com/e7b1c9adf4bf27d86812b859d1f237c1","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3567759391330726","authorIdStr":"3567759391330726"},"htmlText":"Buy buybuy","listText":"Buy buybuy","text":"Buy buybuy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/325974408","repostId":1130810138,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":325972108,"gmtCreate":1615860721804,"gmtModify":1704787582442,"author":{"id":"3575073189210407","authorId":"3575073189210407","name":"Tyh","avatar":"https://static.tigerbbs.com/6c4970d78cc85d56469e243a5440aa1a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575073189210407","authorIdStr":"3575073189210407"},"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/325972108","repostId":1130810138,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":325979026,"gmtCreate":1615860290665,"gmtModify":1704787575638,"author":{"id":"3567295126071659","authorId":"3567295126071659","name":"RonnieSG","avatar":"https://static.tigerbbs.com/20c3815bb0969cd4ea7a26f56e53df31","vip":1,"crmLevel":7,"crmLevelSwitch":1,"idStr":"3567295126071659","authorIdStr":"3567295126071659"},"htmlText":"Timely, have been expecting it","listText":"Timely, have been expecting it","text":"Timely, have been expecting it","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/325979026","repostId":1130810138,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":33,"commentSize":24,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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