Websim is the retail division of Intermonte, the primary intermediary of the Italian stock exchange for institutional investors. Leverage Shares often features in its speculative analysis based on macros/fundamentals. However, the information is published in Italian. To provide better information for our non-Italian investors, we bring to you a quick translation of the analysis they present to Italian retail investors. To ensure rapid delivery, text in the charts will not be translated. View the original at websim.it
The technology sector performed positively yesterday, thanks to Nvidia’s first quarter accounts which reported revenues of $5.66 billion, (+ 84% yoy), beating Bloomberg consensus estimates of $5.41 billion. Earnings reported were also above expectations: adjusted EPS was at $3.66 vs estimates of $3.31.
AMD [AMD.O] dropped 0.3% to $78.34 in pre-trading. Yesterday it closed at $78.34 (+0.6%). The stock, after an upward trending phase that had lasted several years, is now in its consolidation phase with key support in the $72-75 range. Also, a purchase range around $100 becomes feasible.
We suggest going LONG on the stock by buying the Leverage Shares 2x AMD ETP (ISIN: IE00BKT6ZG93), with an increase in exposure on any cues indicating downward movement towards $73, with short-term target being around the $84/89 range. and a more ambitious range around $100 Alert/stop loss should be below $70 (closing daily).