Hard Right Edge Analysis – AMD, PTON, TWTR
By Bennett Tindle October 27, 2020
This morning AMD reported better-than-expected earnings with both a top and bottom line beat. If you follow our work here at TA, you’ll know It’s no secret; we’ve been bullish this stock! AMD also announced the planned acquisition of fellow semiconductor company Xilinx! We feel this is a fantastic step towards continuing to expand data center operations, and expect fundamental follow through over the next several quarters. Despite a stellar quarter and this monstrous acquisition, the stock managed to sell-off closing down over 4% on the session. Surprising? Not really. In fact, we view this stock as in a continued consolidation which should resolve higher in the coming months — so keep your eyes on it!
Another chart that looks attractive heading into the end of the year is that of Twitter. We are seeing continuation into a new 5-year high, but still a ways off the all time high established back in December of 2013. Based on our current price-pattern developments, we see the potential for continuation into and potentially even beyond those previously established levels! Yet another one to keep your eyes on.
Last but not least is the workout-from-home stock of Peleton! Our Founder & CEO Todd Gordon has been bullish this name for several quarters, and continues to hold a position in his personal investment portfolio. Subscription model in the fitness industry? Who would have thought! The chart speaks for itself, sitting up nearly 600% since the March lows. Could this move still have gas left in the tank? We think so. Keep your eyes on consolidation back into the daily-50 moving average, as it should be a key source of support for continuation into our upside projections near $170 a share!