Trading Strategies For AMD Stock Before And After Q3 Earnings
Portfolio Pulse from Melanie Schaffer
Advanced Micro Devices, Inc (AMD) is expected to report Q3 earnings after the market closes. Ahead of the event, Rosenblatt analyst Hans Mosesmann reiterated a Buy rating on AMD and a price target of $200. From a technical analysis perspective, AMD's stock looks bearish heading into the event. If AMD trades bearishly on Wednesday, Nvidia Corporation is likely to fall in tandem, and traders can play the possible downside of Nvidia using the AXS 1.25x NVDA Bear Daily ETF (NVDS).
October 31, 2023 | 7:00 pm
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POSITIVE IMPACT
If AMD trades bearishly, Nvidia is likely to fall in tandem, and traders can use NVDS to play the possible downside of Nvidia.
The news suggests that if AMD trades bearishly, Nvidia is likely to fall in tandem. This could lead to an increase in the value of NVDS, which tracks 125% of the opposite daily performance of NVDA.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
AMD's stock looks bearish ahead of Q3 earnings. If the stock trades bearishly, it could impact the stock price negatively.
The news indicates a bearish outlook for AMD's stock ahead of its Q3 earnings. This could lead to a decrease in the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100