2 NASDAQ earning reports to watch in OctoberIt’s that time of year again; earning session for US stocks. With so many other variables contributing to volatility in the US markets (e.g., inflation , Fed rate hikes, recession, oil prices, quantitative easing), anything out of the ordinary can result in huge moves in stock prices. This has already been witnessed in an early report from Nike (NYSE: NKE ) last week, where it missed on some metrics and was punished with a -12.8% fall in its stock price.
So, with this in mind, here are two earning reports to watch this October.
Advanced Micro Devices (NASDAQ: AMD )
AMD updates the market with its earnings on Tuesday October 25, alongside some of the other major companies on the NASDAQ, including Microsoft (NASDAQ: MSFT ) and Alphabet (NASDAQ: GOOG ).
AMD shares fell +23% in September, partly impacted by the weak report from sector compatriot Micron Technology (NASDAQ: MU). It is the weak demand outlook that Micron painted for personal-computer products that makes AMD’s upcoming announcement one to watch.
Similarly, Taiwan Semiconductor (NYSE: TSM ) is reporting on October 13, which could serve as another barometer for the industry before AMD delivers its report.
Netflix (NASDAQ: NFLX )
It may be a make or break earnings report for Netflix on Tuesday 18 October.
Netflix shares climbed +8.4% over September, and over +30% since its last market update in June, where it reported a loss of almost 1 million subscribers. In fact, Netflix was one of the top S&P 500 performers last month, where the broader market index fell by -8.0%.
In the upcoming announcement, investors will be looking out for more details concerning the company’s plan to diversify its revenue base with ad-tier subscription and its heretofore mild penetration into the gaming space.
Some surveys point to almost half of Netflix’s subscribers considering a switch to the company’s ad-tier plans, which would mean that Netflix would have to fill that subscriber revenue gap by selling $5.4 billion worth of ad space.
AMD.B trade ideas
AMD NASDAQ Its has M-reversal Pattern.A double top is a pattern for two successive peaks, which may or may not be of the same price levels. The pattern looks like an M. A double top pattern occurs when the stock fails to continue the uptrend in its second attempt as it meets resistance pressure from sellers at its highs. In a market rally, sellers suddenly take control and push the price downward. Price begins to retreat to a level that is considered attractive for buyers. The buyers enter the market and push the price up to make a second top where it finds new selling pressure, which pushes the price down past its last trough. When the price declines below the low point established between the two tops, a double top pattern has been activated.
AMD200 week average good long term support.
Along with 50%-61.8% of the historical rise.
For traders 38.2% of historical rise critical 100 support.
next support at 83 and 61 as shown in the chart along the horizontal line.
RSI on weekly is falling.
New Trend emerge from Oversold and in co-ordination with support of retracement as shown
Sunday Prep 10/10 - $AMD Will Look for Early Wash Off the OpenI like where this pullback from the highs has shown the ability to hold. It’s just a nice retest of the breakout from the 9 month long base that was built from Dec.’20-Aug’21 as well as the psychological 100 level. Will look for an early wash off the open to snag some in the 103 area where we have the quarterly pivot plus a retest of last Tuesday’s highs.
Midweek Watch 10/06 - $AMD Should be Good if Market HoldsMy Level: Long off $101.25
Why: Prior Quarterly pivot & 65% Fibonacci retrace level
Had a really strong day today, closed on highs. Watching it off 100 for a few days or so, if market shows some strength tomorrow I think $AMD might be good for a join around that $101 level
Sunday Prep 8/29 - $AMD Triggered the Long for me on FridayAMD triggered the long for me on Friday but never gave a dip to buy afterwards. So I’m still waiting for that dip. First area I would like to try to get long would be a retest of the trigger at 110. If that area doesn’t hold the next spot I would take my shot is the 20d. If we push strong off the open on Monday then I may look to buy dips and join trend.
AMDThis chart is only for educational purposes. Do your due diligence before investing or trading. I'm not responsible for any profits or losses that arise from your actions. The purpose of sharing this chart is only for education, and it serves as my personal diary.
My paper trading:
I will enter above $107 if it sustains
My SL 105
Target: As per Risk reward
AMD - growth in the near future.As we see in the two-hour time frame, the price is close to the resistance level of $ 85. If there is a breakdown of the resistance line and the price fixes, it makes sense to take a long time. You need to wait a bit and see how the price will behave.
P. S. Never take hasty conclusions and rash decisions.
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