Advanced Micro Devices Inc (AMD)

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Major Breakouts Are Continuing In A Big Way
By: Tom Bowley | July 29, 2021

Months of consolidation is now resulting in key breakouts for a number of growth stocks. Amazon.com (AMZN), which will report quarterly results later today, was a high-profile breakout after nearly a year of consolidation. But that's simply set the beginning of a trend. Here are two more that are clearing major price resistance after delivering much-better-than-expected quarterly results:

AMD:

Here were the reported numbers for AMD:

• Revenues: $3.85 billion (actual) vs. $3.62 billion (estimate)
• EPS: $.63 (actual) vs. $.54 (estimate)

The result?



This looks like a game-changer technically. Though not shown above, AMD is quickly accelerating vs. its semiconductor peers as well. Future 20-day EMA tests would be excellent entry opportunities...

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Happy trading!

Tom

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