Chart of Day: "#2 Tech Giant" is Heading Higher

You are receiving this email because you are subscribed to Daily Guru Trades. If you no longer wish to receive these emails, please unsubscribe here. Keep an eye on Advanced Micro Devices (SYM: AMD). Oversold at $145, it’s just starting to pivot higher after finding strong support at $140. It’s also starting to pivot from overextensions on RSI, MACD and Williams’ %R. From $145, we’d like to see AMD initially refill its bearish gap at around $162.50. Helping, analysts at Evercore ISI just raised their price target on AMD to $198 with an outperform rating. While AMD did forecast a 10% EPS outlook miss, the firm is still bullish on AMD because it continues to gain traction as the No. 2 supplier of accelerator solutions. We also have to consider that the artificial intelligence and data center demands aren’t likely to slow any time soon. All of which is great news for stocks like AMD. Even better, “While Intel's Xeon CPUs still power the majority of servers, the most expensive machines now use AMD's EPYC processors. This is why AMD's datacenter business unit now outsells Intel's datacenter and AI business group,” as noted by TomsHardware.com. Did you miss yesterday's Chart of the Day? Click here to see it now. DC2 Publishing LLC 4260 NW 1st Avenue Suite # 55 Boca Raton, FL 33431 – 4264 Daily Guru Trades Copyright © 2023 Daily Guru Trades, All rights reserved. You are receiving this email as part of your subscription to Daily Guru Trades. If you have any questions, please contact us at support@dailygurutrades.com. Daily Guru Trades is a newsletter offered to the public on a subscription basis. 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