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Advanced Micro Devices Stock Shows Heavy Demand

One big reason for the stock’s rise is heavy demand for the shares.

Advanced Micro Devices Shares Attract Big Money

So, what’s Big Money? Said simply, that’s when a stock goes up in price alongside chunky volumes. It’s indicative of institutions betting on the shares.

Smart money managers are always looking for the next up-trending stock. And AMD has many fundamental qualities that are attractive.

But how the shares have been trading points to strong investor appetite. As I’ll show you, the Big Money has been consistent in the shares.

Each green bar signals big trading volumes as the stock ramped in price:

Source: www.mapsignals.com
Source: www.mapsignals.com

Since November, the shares attracted 6 unusual buy signals. Demand for the stock has been high. Those repeated green bars could mean more upside is ahead.

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Now, let’s check out the fundamental action grabbing my attention:

Advanced Micro Devices Fundamental Analysis

Next, it’s a good idea to check under the hood. Meaning, I want to make sure the fundamental story is supportive too. As you can see, AMD grew sales double digits on a 1-year basis. Also, the firm is expected to grow EPS too. Take a look:

  • 1-year sales growth rate (+43.6%)

  • 1-year estimated EPS growth rate (+39.2%)

Source: FactSet

Marrying strong fundamentals with technically superior stocks is a winning recipe over the long-term.

In fact, AMD has been a top-rated stock multiple times at my research firm, MAPsignals. That means the stock has buy pressure, strong technicals, and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.

Let’s wrap up.

Advanced Micro Devices Price Prediction

The AMD rally could have further to go. Healthy buying in the shares is signaling to take notice. Shares could be positioned for further upside.

Please note, shares could be extended at these levels given the large accumulation signals.

Disclosure: the author holds no positions in AMD at the time of publication.

Learn more about the MAPsignals process here.

Contact

https://mapsignals.com/contact/

This article was originally posted on FX Empire

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