AMD is Ryzen Today

AMD made a very big move today considering the markets were pretty quiet. With Wall Street singing high praise for their new line of Ryzen Chips geared towards gaming. With a big price target boost and upgrade today, buyers flooded into the stock and AMD is up over 10% so far for the session. Just as important, AMD is breaking out of the channel and looks to easily reach the $36 price target range given today. Considering how badly the sector has performed in recent weeks, AMD is now becoming the strongest performer in the sector right now. Strength in the face of broad weakness tells me the sentiment in the stock is really strong at the moment. While I am unsure of the stock will continue to break out to the upside, it sure is a lot better than INTCWealth Strength IndexAAPL is Extremely Up and trending Up, NVDAWealth Strength IndexAAPL is Extremely Up and trending Up, and AVGOWealth Strength IndexAAPL is Extremely Up and trending Up for the time being. Expect AMD to try for that $36 level sooner than later.