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Investors may want to buy the pullback in Advanced Micro Devices (AMD). After pulling back from $122.49, the AMD stock found support around $105, and is just beginning to push higher. Helping, Goldman Sachs just reiterated a buy rating on the stock after hosting investor meetings with the company. BMO Capital analysts also upgraded AMD to Market Perform with a price target of $110 from $80. They note it’s “time to acknowledge when we are wrong,” as quoted by TheFly.com. “Considering the company’s continued execution and the expansion in estimates, the shares look relatively more reasonably valued than they did earlier in the year,” they said. This is just one of the opportunities we find quite often inside Extreme Option Profits.
The post Extreme Option Profits Chart of Day…Advanced Micro Devices (AMD) appeared first on Trading Concepts, Inc.. |
The stock market was mixed on Monday with Tech and the broader market staying hot while the blue-chips and small-caps slumped. Real Estate and Technology were the strongest sectors after rising 1.2% and 1.1%, respectively. Financials were the weakest sector after falling 1.4%. Volatility stayed slightly elevated throughout the first half of action before easing into the closing bell, but continues to struggle with key support levels. The Nasdaq finished at 15,265 (+0.9%) with the intraday all-time high hitting 15,288. Unchartered territory and lower resistance at 15,200-15,350 was cleared and held. A move above the latter would signal ongoing momentum towards 15,500-15,650. The S&P 500 closed at 4,528 (+0.4%) after testing a fresh record high of 4,537. New and lower resistance at 4,525-4,550 was cleared and held. A close above the latter would indicate additional upside towards 4,575-4,600. The Russell 2000 tapped a late day low of 2,264 before settling at 2,265 (-0.5%). Current and upper support at 2,275-2,250 failed to hold. A drop below the latter would signal a retest towards 2,225-2,200 and the 50-day moving average. The Dow tagged a low of 35,374 while ending at 35,399 (-0.2%). Near-term and upper support at 35,250-35,500 was challenged but easily held. A move below the latter would suggest a further fade towards 35,000-34,750 and the 50-day moving average. Exploit a Step-by-Step BLUEPRINT in 1 Hour or LESS a Day & EARN Consistent Daily Income from the Most Predictable & Profitable Market on the Planet.
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ANALYST UPGRADES/DOWNGRADESAmerant Bancorp (AMTB) upgraded to Overweight from Neutral at Piper Sandler TUESDAY'S EARNINGS ANNOUNCEMENTS After the close: Ambarella (AMBA), Caleres (CAL), CrowdStrike (CRWD), Paycor (PYCR), PVH (PVH) TUESDAY'S ECONOMIC NEWS METALS/ OIL I hope this helps you prepare for the trading day. Make it a great one! Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP IN THIS EPISODE MARK, THE GREASY MEATBALL, AND UNCLE MIKE BREAK DOWN:
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The stock market bounced back on Friday to close out a solid week after Fed Chairman Powell signaled caution over any eventual decision to raise interest rates as he continued a wait and see approach on further progress made in the economy.
Powell offered no indication on when the central bank plans to cut its asset purchases but stated it could be this year. He also reiterated that he believes current elevated levels of inflation will prove transitory as the economic recovery further matures.
The Russell 2000 closed 2,277 (+2.9%) and back above its the 50-day moving average with the intraday peak tapping 2,281. Prior and lower resistance from early July at 2,275-2,300 was reclaimed. A close above the latter would indicate additional strength towards 2,325-2,350. Below is a chart of the IWM.
The Nasdaq tagged a record high of 15,144 before settling at 15,129 (+1.2%). Lower resistance at 15,000-15,150 was cleared and held. A pop above the latter would be an ongoing bullish development for upside towards 15,200-15,350.
The S&P 500 tested a lifetime high of 4,513 while ending at 4,509 (+0.9%). Key resistance at 4,500 was cleared and held. Continued closes above this level would suggest additional momentum towards 4,525-4,550.
The Dow finished at 35,455 (+0.7%) after making an afternoon run to 35,479. Near-term and lower resistance at 35,250-35,500 was recovered. A close above the latter and the recent all-time peak at 35,631 would signal a breakout towards 35,750-36,000.
Exploit a Step-by-Step BLUEPRINT in 1 Hour or LESS a Day & EARN Consistent Daily Income from the Most Predictable & Profitable Market on the Planet.
GOAL: $250 to $500 + Every SingleDay the Market is Open…Like Clockwork! Discover this Simple, 4-Step Process, Fully Disclosed BLUEPRINT for yourself.
ANALYST UPGRADES/DOWNGRADESDave & Buster's (PLAY) upgraded to Buy from Hold at Truist Five Below (FIVE) downgraded to Equal Weight from Overweight at Morgan Stanley MONDAY'S EARNINGS ANNOUNCEMENTS After the close: Azure Power Global (AZRE), Nordson (NDSN), ReneSola (SOL), StoneCo (STNE), Zoom Video Communications (ZM) MONDAY'S ECONOMIC NEWS METALS/ OIL |