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AMD update plan

Yesterday, there was a gap-down opening, and the stock plummeted all the way, forming a bearish candlestick pattern with a long lower shadow. There was no opportunity to jump ship, and it crashed directly.
The previous upward trend no longer exists. Currently, I believe that it will consolidate around 162 as the center, with a high probability of trading between 155 and 170. This is an estimate, not very accurate, but that's the general idea. The consolidation trend is likely to continue until the financial report, and then a new direction will be chosen.
Of course, after the financial report, there may continue to be consolidation, for example, if the performance meets expectations but the stock price has already fallen in advance, so consolidation continues. However, the 200-day moving average is approaching this level from below, which will provide more support.
Although the price of this consolidation is not cheap, it is not considered expensive either. It still depends on the performance and forward guidance to determine the subsequent trend.
My choice is to primarily observe. If it reaches around 170, I may consider reallocating to other stocks if there are better opportunities.
As for Biden's so-called export ban, I think it's just a panic sentiment. If people can sneak across borders, let alone a chip? Unless a chip is like software, where it must be connected to the internet and logged in with an account to be used, that's another story. But I think that's unlikely.
If this round of selling intensifies, I will see it as an opportunity to bottom fish for ai chips.
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