Bullish option flow was detected in AMD stock on January 14, 2022.
Bullish Option Flow
Make sure to review this lesson on option flow so that you understand the image above.
AMD price target raised to $150 from $135 at Mizuho
On January 13, 2022, Mizuho analyst Vijay Rakesh raised the firm’s price target on AMD to $150 from $135 and keeps a Buy rating on the shares. The analyst gave his outlook across semis and automotive technologies and his top sectors in 2022 are memory, wafer fab equipment, data center, 5G and electric vehicles.
AMD Highlights Growing Cloud Momentum With New Amazon EC2 Instances for High Performance Computing
On January 12, 2022, AMD (NASDAQ: AMD) announced Amazon Web Services, Inc. (AWS) has expanded its AMD EPYC™ processor-based offerings with the general availability of the new Amazon EC2 Hpc6a instances, which are purpose-built for high-performance computing (HPC) workloads in the cloud.
According to AWS, Amazon EC2 Hpc6a instances deliver up to 65 percent better price-performance compared to similar Amazon EC2 instances. Hpc6a will help customers run their most compute-intensive HPC workloads like, genomics, computational fluid dynamics, weather forecasting, financial risk modeling, EDA for semiconductor design, computer-aided engineering, and seismic imaging.
Throughout the HPC industry, there has been a growing preference for AMD as showcased by AMD EPYC processors powering 73 supercomputers on the latest Top500 list and holding 70 HPC world records1. The new Hpc6a instances bring the leadership performance and capabilities of 3rd Gen AMD EPYC processors to compute-optimized Amazon EC2 instances used for highly complex HPC workloads.
“Our processors power all levels of HPC, from exascale systems in research laboratories to flexible HPC cloud computing instances like the new Amazon EC2 Hpc6a instances. AMD EPYC processors provide a powerful solution for Amazon EC2 customers that need access to impressive HPC performance and cloud scalability for their workloads,” said Dan McNamara, senior vice president and general manager, Server Business, AMD. “Our work with AWS exemplifies our commitment to powering cutting edge technology in the HPC industry and helping customers find answers to the world’s most pressing questions.”
“Amazon EC2 Hpc6a instances, powered by 3rd Gen AMD EPYC processors, allow organizations the flexibility to run HPC workloads requiring an abundance of compute power, fast memory and storage, and high levels of inter-instance communication without the upfront cost of building and maintaining HPC infrastructure on-premises,” said David Brown, vice president, Amazon EC2, AWS. “We’re excited to continue our collaboration with AMD and add another crucial AMD EPYC instance to the Amazon EC2 portfolio.”
The instances powered by 3rd Gen AMD EPYC processors are available today in US East (Ohio) and AWS GovCloud (US-West), with availability in additional AWS Regions planned soon. AWS customers can visit the Amazon EC2 Hpc6a instances page to get started.
📺 AMD 2022 Product Premiere – Recap[embedyt] https://www.youtube.com/watch?v=X-7naMLoTQE[/embedyt]
📈 AMD Stock Technical Analysis
The long-term trend is positive and the short-term trend is negative. It is probably better to wait until this picture becomes clearer. AMD is part of the Semiconductors & Semiconductor Equipment industry. There are 107 other stocks in this industry. AMD outperforms 74% of them. AMD is currently trading in the middle of its 52-week range. The S&P500 Index however is trading in the upper part of its 52-week range, so AMD is lagging the market slightly.
There is a support zone ranging from 134.36 to 135.16. There is also a support zone ranging from 131.99 to 131.99. These zones are formed by a combination of multiple trend lines in multiple time frames. Finally, there is support at 123.34 from a trend line in the weekly time frame.
There is resistance at 148.80 from a trend line in the daily time frame. There is a resistance zone ranging from 154.37 to 155.42. This zone is formed by a combination of multiple trend lines in multiple time frames.
AMD has an average technical rating and also the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on AMD stock and when it consolidates for a good long entry.