Calm Before Storm as Nvidia Earnings, Data Deluge, Bigger Trade War Loom
Earnings land tonight from NVDA, CrowdStrike and Salesforce, after we get a plethora of economic data and as we deal with Iran and a trade spat with Canada.
AMD Gets a Boost, So Here’s My Plan
Amid trading volatility as Nvidia gets ready to report, AMD gets an upgrade by a star analyst.
A Potential Tell as Chip Stocks Come Under Pressure
We continue to see a favorable fundamental outlook, but we’re waiting for a better technical one.
On That Note…
Advanced Micro Devices ($AMD) is up more than 2.5% on the debt issuance news. Readers will see that AMD hit resistance through June and July at close to the same level. The shares also found support at the 38.2% Fibonacci retracement level of the March into July rally. This has created what we call a basing period of consolidation or “flat base.” The stock can break in either direction out of these patterns, but in my experience, they have tended to be patterns of continuance. In this case, that would be bullish.
The upside pivot remains the 50-day SMA. Relative strength is still non-committal, but the daily MACD is starting to look a lot closer to a more bullish posture across all three components. I am reiterating my $700 target price here.
Our Pros Weigh In On Whether Palantir Stock Can Hit $200
This week’s sentiment survey will tell us where our team stands on the stock market before digging in on Tesla, SpaceX, and Palantir. Plus, why your 401(k) may be invested in the wrong things.
Why We’re Keeping Our $700 Price Target on This Holding as Shares Drop
Let’s break down the latest earnings and guidance, why the stock’s moving lower today and our plan going forward.
VIDEO: Why SpaceX Is Falling Despite Earnings Beat
And why retail earnings could be more of a challenge for the market.
Here’s My AMD Plan After Wall Street’s ‘Misguided’ Selloff
What exactly are AMD bears hanging their hats on? Oh, and I have allies…
U.S. and Iran, Deal or No Deal? 8 Key Items Shaping the Stock Market Wednesday
ISM’s Inflation data, SpaceX spending and Foxconn’s July revenue among the headlines shaping the market today/
Party on Wall St.! Palantir, Micron, SK Hynix Invited! (SpaceX, AMD Not…)
Are ‘Happy Days’ here again? Let’s check the stats, charts and the action on Wall Street. Also, guess who’s getting beat up along the way….