Top RSI Trades for the day- Advanced Micro Devices, Inc. (NASDAQ:AMD) Drives Leadership Performance and Energy Efficiency in Supercomputing

On Tuesday, Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) reached at $76.96 price level during last trade its distance from 20 days simple moving average was 24.72%, and its distance from 50 days simple moving average was 15.88% while it has a distance of -15.15% from the 200 days simple moving average. At the Supercomputing Conference 2022 (SC22), AMD (NASDAQ: AMD) showcased its continued momentum and dominating presence within the high performance computing (HPC) industry. AMD EPYC CPUs and AMD Instinct accelerators continue to be the processors of choice for the most demanding HPC workloads powering the most complex simulations and modeling tools.

“Innovation in high performance computing has a dramatic impact on society, advancing groundbreaking research that has the potential to vastly improve quality of life for people everywhere,” said Forrest Norrod, senior vice president and general manager, Data Center Solutions Group, AMD. “AMD is constantly innovating and evolving our EPYC processors and Instinct accelerators to ensure scientists and researchers working on solving the world’s toughest challenges have the most cutting-edge tools for their research.”

Additionally, AMD powers 75 percent of the top 20 systems on the Green500 list including the number two spot with the Frontier test and development system (TDS) and the number six spot with the full system. The Adastra supercomputer, procured by GENCI, delivered 58.02 gigaflops/watt and placed third on the list. Adastra was the first supercomputing system to be powered by 4th Gen AMD EPYC CPUs and AMD Instinct MI250 accelerators.

“In early 2023, GENCI, the French HPC/AI agency, will deploy an additional scalar partition to its HPE Cray EX400 supercomputer called Adastra, hosted and operated at CINES (Montpellier),” said Philippe Lavocat, CEO, GENCI. “This new partition, providing 536 compute nodes, each with two 96-core 4th Gen AMD EPYC CPUs and 768 GB of DDR5 memory will benefit from the latest innovations by AMD in core density/performance and energy efficiency. This new partition will serve the needs of French scientific and industrial user communities in climate, biology and medicine, new energies and materials.”

A Year of Industry Advancements and Ecosystem Wins

AMD continues to build on its history of industry-firsts and delivering products with breakthrough performance. Additionally, the company’s latest collaborations have significantly advanced the HPC industry and demonstrated the growing preference for AMD processors and accelerators.

AMD announced the 4th Gen AMD EPYC processors with up to 96-cores, 12 channels and up to 384GB of DDR5 memory, the latest EPYC processors can deliver the leadership performance needed for critical workloads in HPC.

Past 5 years growth of AMD observed at 44.60%, and for the next five years the analysts that follow this company are expecting its growth at 16.88%. The average true range (ATR) is a measure of volatility introduced by Welles Wilder in his book, “New Concepts in Technical Trading Systems.” The true range indicator is the greatest of the following: current high less the current low, the absolute value of the current high less the previous close and the absolute value of the current low less the previous close. The average true range is a moving average, generally 14 days, of the true ranges.

Advanced Micro Devices, Inc. has an average true range (ATR) of 3.85. Other technical indicators are worth considering in assessing the prospects for EQT. AMD’s price to sales ratio for trailing twelve months was 4.91 and price to book ratio for most recent quarter was 2.18, whereas price to cash per share for the most recent quarter was 20.06. The Company’s price to free cash flow for trailing twelve months was 32.91. Its quick ratio for most recent quarter was 1.70. Analysts mean recommendation for the stock was 2.00. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.

Advanced Micro Devices, Inc.‘s shares owned by insiders remained 0.50%, whereas shares owned by institutional owners are 68.40%.

Meanwhile, AMD traded under umbrella of Technology sector, the stock was traded -53.20% ahead of its 52-week high and 41.03% beyond its 52-week low. So, both the price and 52-week high indicators would give you a clear-cut picture to evaluate the price direction.

The post Top RSI Trades for the day- Advanced Micro Devices, Inc. (NASDAQ:AMD) Drives Leadership Performance and Energy Efficiency in Supercomputing appeared first on Stocks Equity.

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