Bullish flag formed in AMD
As Intel rumors were confirmed, AMD took a beating. But these rumors are non-threatening, at least in the short-term. Intel has yet to finish their 7nm chip whereas AMD is already working on their 5nm chip. AMD is way ahead of the game, more involved with gaming than intel because of their additional console exposure. Intel's new Fab's won't be fully operational/have an effect on financials until 2023 or 2024.
In the meantime, AMD is crushing it. AMD may bounce here while the reality of the timeline sets in and causes INTC to sell-off after an incredible YTD run based on whispers of their plans.
AMD might bounce off the flag line or the resistance line (doubtful it breaks resistance) and mimic its recent impulse. "History doesn't repeat itself, but it often rhymes". If it breaks the flag trendline the next support is at the $48 level; that scenario is highly unlikely.
As Intel rumors were confirmed, AMD took a beating. But these rumors are non-threatening, at least in the short-term. Intel has yet to finish their 7nm chip whereas AMD is already working on their 5nm chip. AMD is way ahead of the game, more involved with gaming than intel because of their additional console exposure. Intel's new Fab's won't be fully operational/have an effect on financials until 2023 or 2024.
In the meantime, AMD is crushing it. AMD may bounce here while the reality of the timeline sets in and causes INTC to sell-off after an incredible YTD run based on whispers of their plans.
AMD might bounce off the flag line or the resistance line (doubtful it breaks resistance) and mimic its recent impulse. "History doesn't repeat itself, but it often rhymes". If it breaks the flag trendline the next support is at the $48 level; that scenario is highly unlikely.
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