Shared by
J_Matrix
Advanced Micro Devices (ticker: AMD) yesterday made the bold decision to actually provide full-year financial guidance . That’s more than you can say for most other chip companies. AMD arc-rival Intel (INTC) withdrew its full-year guidance when it reported first-quarter results last week , citing the uncertainty amid the coronavirus crisis and the associated economic downturn. AMD, on the other hand, projected 25% revenue growth for the year, down from a previous forecast of 28% to 30%, but still impressive in the current environment.
AMD recovered very well in the afterhours and premarket after announcing earnings. The overall chart was very bullish on the daily. The 54 was a key infliction point that it had recovered from the initial down fall and has proven in the premarket that it held.
My thesis was that the initial sell was over exaggerated and that if 54 would hold, the stock would gap fill back up to 55.50 for the retest. My overall bias was a long.
AMD just ended up trading around VWAP all day near 54.
Shares Traded: 2200
PNL: 78
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-04-29 09:58:30 | AMD | buy | $53.680 | long |
| 2020-04-29 10:11:54 | AMD | sell | $53.360 | 0 |
| 2020-04-29 10:14:27 | AMD | buy | $53.750 | long |
| 2020-04-29 10:16:38 | AMD | buy | $54.000 | long |
| 2020-04-29 10:18:05 | AMD | buy | $54.000 | long |
| 2020-04-29 10:22:48 | AMD | sell | $54.200 | long |
| 2020-04-29 10:34:39 | AMD | buy | $54.280 | long |
| 2020-04-29 10:39:44 | AMD | sell | $54.480 | long |
| 2020-04-29 10:43:06 | AMD | sell | $54.270 | 0 |
| 2020-04-29 10:46:53 | AMD | buy | $54.170 | long |
| 2020-04-29 10:49:48 | AMD | buy | $54.100 | long |
| 2020-04-29 10:55:46 | AMD | sell | $54.080 | long |
| 2020-04-29 10:57:14 | AMD | sell | $53.880 | 0 |
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