AMD- The light house of AI
Everyone talks about Nvidia as the forerunner for the 'picks and shovels' category of AI. Well I don't blame them. In fact I do agree that they are the ones leading the race at the moment and with the lead that they have established as well as moat, it will take a lot to unseat them. I present to you AMD, the closest and most credible contender to Nvidia. AMD is so important and the market so big that it makes complete sense that they has to be another big player in the category.
Henceforth, AMD will be one of my ten picks of stocks to hold for 10 years. Fundamentally, they have one of the soundest growth stories around and they have one of the most proven stalwart in Tech to make it happen. It will be another wordy article to talk about it so to cut to the chase, let me just present to you the technical picture.
I have two counts on the table for AMD. The good news is both are bullish long term. However one will take a longer time to hit overhead targets which will be good for bargain hunters to sniff out a good bargain when it pull backs. The other one will see a direct run at the sky much like what Nvidia did a few months back.
So which one is it? I believe the results in two weeks time will be key as well as management's guidance. It is all about the guidance. An eye popping one like Nvidia will see the ATH be taken out with a gap and go to kick off that third wave. At the moment, I believe the overhead resistance is a bit too strong even for the most bullish bulls! However, if ATH gets taken out with strength and volume and price stays above that level, that to me is a bullish sign.
As usual, I prefer to let price lead rather than chase so for safety's sake I am willing to let some profit off the table while waiting to see what the market wants to do.
Disclaimer: Please kindly do your own due diligence as this is a sharing article and in no means financial advise. I am just sharing my opinions and thoughts.
Thanks for reading my commentary. Hope it helps!
Stay safe! 😊
$Semiconductor Bull 3X Shares(SOXL)$
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