Advanced Micro Devices, Inc. : Towards the breakout of a major resistance level

11/27/2020 | 03:39am EST

Jordan Dufee

long trade Live

Entry price : 87.99$ | Target : 100$ | Stop-loss : 79$ | Potential : 13.65%

Advanced Micro Devices, Inc. shares are reaching an interesting resistance zone. The current technical chart pattern suggests that a breach of this level could lead to new upside potential. Investors have an opportunity to buy the stock and target the $ 100.

Summary

• The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.

Strengths

• The prospective high growth for the next fiscal years is among the main assets of the company
• The company returns high margins, thereby supporting business profitability.
• Thanks to a sound financial situation, the firm has significant leeway for investment.
• Historically, the company has been releasing figures that are above expectations.
• Upward revisions of sales forecast reflect a renewed optimism among the analysts covering the stock.
• Over the last twelve months, the sales forecast has been frequently revised upwards.
• Analysts remain confident with respect to the group's activity and, more often than not, have revised upwards their earnings per share estimates.
• The tendency within the weekly time frame is positive above the technical support level at 55.04 USD

Weaknesses

• The stock is currently in contact with a medium-term resistance that must be gotten rid of so as to resume the upward trend.
• The company's "enterprise value to sales" ratio is among the highest in the world.
• The company's valuation in terms of earnings multiples is rather high. Indeed, the firm is getting paid 88.3 times its estimated earnings per share for the ongoing year.

Ratings chart

Subsector Semiconductors - NEC

1st jan. Capitalization (M$) Investor Rating ADVANCED MICRO DEVICES, INC.. -3.82% 106 211 TAIWAN SEMICONDUCTOR MANUFA.. 14.53% 556 796 NVIDIA CORPORATION -1.50% 318 401 INTEL CORPORATION 15.58% 235 963 BROADCOM INC. 1.83% 181 333 QUALCOMM INCORPORATED 3.12% 177 669 TEXAS INSTRUMENTS 3.08% 155 307 MICRON TECHNOLOGY, INC. 7.37% 90 299 SK HYNIX, INC. 9.70% 79 090 LONGI GREEN ENERGY TECHNOLO.. 11.90% 59 577 ANALOG DEVICES, INC. 6.78% 58 286

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