Semiconductor firm Advanced Micron Devices (AMD) is set to report earnings after the close of trading Tuesday. Let's review the charts and indicators.
In this daily bar chart of AMD, below, I see that prices have been cut in half in the past 12 months. Prices trade below the declining 200-day moving average line and above the flattening 50-day line.
The On-Balance-Volume (OBV) line shows some modest improvement from early November. Trading volume has declined since October. The Moving Average Convergence Divergence (MACD) oscillator has just moved above the zero line for a fresh outright buy signal.
In this weekly Japanese candlestick chart of AMD, below, I see a mixed to bearish picture. Prices are below the declining 40-week moving average line. The weekly trading volume has declined since May and is not a positive.
The OBV line shows an uneven decline from November 2021. The MACD oscillator is bearish.
In this daily Point and Figure chart of AMD, below, I can see that the software is projecting an upside price target in the $93 area. A trade at $71.56 or lower could turn this chart bearish.
In this weekly Point and Figure chart of AMD, below, I see that the software is projecting a downside price target in the $10 area. Ouch.
Bottom line strategy: I have no special knowledge of what AMD will tell shareholders and analysts on Tuesday. The charts and indicators are not giving me a reason to recommend purchase. Avoid the long side of AMD.
