During Friday's Mad Money program, Jim Cramer gave viewers his game plan for this week, with several major companies reporting earnings.
On Tuesday, we'll hear from Action Alerts PLUS holdings Advanced Micro Devices (AMD) , Alphabet (GOOGL) , Microsoft (MSFT) and Starbucks (SBUX) . Cramer was bullish on all but Starbucks, where growth in China could be offset by continued weakness in the U.S.
We will concentrate on AMD in this piece.
When we looked at AMD on March 16 we wrote that, "It sounds like AMD has a positive fundamental story, but right now the charts and indicators suggest that further price weakness is possible. Longer term in the second half of 2021 AMD is probably trading at new highs, but in the short to intermediate term we could see further price weakness."
Let's check on the charts of AMD again as they look stronger now.
In the daily bar chart of AMD, below, we can see that the shares have been trading around the rising 200-day moving average line the past two months. AMD made a small double bottom around $75 and just made a new high for the move up today. AMD is now above the 50-day moving average line.
The On-Balance-Volume (OBV) line has bottomed in the past seven weeks and the Moving Average Convergence Divergence (MACD) oscillator has firmed up to the zero line and is now poised for a bullish cross of the line.