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AMD & SPCX Earnings: Breakout or Bull Trap?

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Today's spotlight is on AMDUSDT.P and SPCXUSDT.P as both report earnings after the market closes. With volatility expected to surge, price reaction will matter more than the numbers alone.

On the technical side, AMD has reclaimed the 491.55 support zone and is now pushing toward a major descending trendline around 538 to 545. A confirmed breakout above this resistance could open the door for a move toward 581, while rejection may trigger another retest of the 490 area.

SPCX is showing a stronger structure after breaking above 118.88 resistance with rising volume. Holding above this level keeps the bullish momentum intact, with 130.42 as the next key upside target. Losing 118.88 would weaken the breakout and shift attention back to the 106.34 support.

Fundamentally, AMD's report will be driven by AI accelerator demand, data center revenue, client PC recovery, and forward guidance. Investors will pay close attention to management's outlook for enterprise AI spending. SPCX remains highly sensitive to growth sentiment, making earnings-driven momentum and future guidance the primary catalysts.

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Earnings Beat, But the Market Sold the News

Both AMD and SPCX reported solid quarterly results, but neither escaped post-earnings selling.

Key numbers:

AMD: Revenue $11.5B (+50% YoY), Data Center revenue +115% YoY, Q3 guidance around $12.3B.
SPCX: Revenue and EPS both came in above expectations, but investors focused on continued heavy investment and future profitability.

The market reaction shows that expectations were already very high. Strong earnings alone weren't enough to justify the recent rally, leading to profit-taking immediately after the release.

Technically, AMD failed to hold above 491.55 and is now trading near 477. Bulls need to reclaim 491.55 to regain momentum, while losing current support could open a move toward the 460-470 zone.

SPCX rejected from the 130.42 resistance and slipped back below 118.88. That level now becomes the key pivot. Reclaiming it would keep the bullish structure alive, while further weakness could send price back toward 106.34.

For now, i see this as an earnings-driven reset rather than a trend reversal. I'll wait for price confirmation before looking for the next opportunity.

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