AMD shares gain for a seventh straight session on Monday, company reveals Radeon Pro V340 graphics card

Advanced Micro Devices Inc (AMD) unveiled over the weekend the Radeon Pro V340 graphics card, aimed to power and accelerate the most sophisticated and resource-consuming datacenter visualization workloads, including CAD, rendering, design and Desktop as a Service (DaaS).

Shares of Advanced Micro Devices Inc closed higher for a seventh consecutive trading session on NASDAQ on Monday. The stock went up 5.34% ($1.280) to $25.260, after touching an intraday high at $27.300, or a price level not seen since September 21st 2006 ($27.900).

Shares of Advanced Micro Devices Inc have surged 145.72% so far in 2018 compared with an 8.35% gain for the underlying index, S&P 500 (SPX).

In 2017, AMD’s stock retreated 9.35%, thus, it underperformed the S&P 500, which registered a 19.42% return.

Utilizing the advanced AMD “Vega” architecture, Radeon Pro V340 represents a dual-GPU solution capable of delivering extreme performance and high user density for virtualized environments.

Pro V340 is the first Virtual Desktop Infrastructure (VDI) hardware solution, which offers users 32 gigabytes of ultra-fast, second-generation high-bandwidth memory, the company said.

“The AMD Radeon™ Pro V340 graphics card will enable our customers to securely leverage desktop and application virtualization for the most graphically demanding applications,” Sheldon D’Paiva, director of Product Marketing at VMware, said.

“With Radeon™ Pro for VMware, admins can easily set up a VDI environment, rapidly deploy virtual GPUs to existing virtual machines and enable hundreds of professionals with just a few mouse clicks,” D’Paiva added.

“As the flagship of our new Radeon™ Pro V-series product line, the Radeon™ Pro V340 graphics card employs advanced security features and helps to cost effectively deliver and accelerate modern visualization workloads from the datacenter,” Ogi Brkic, general manager of Radeon Pro at AMD, was quoted as saying in the companys press release.

The new graphics card is expected to be launched during the fourth quarter of 2018.

According to CNN Money, the 27 analysts, offering 12-month forecasts regarding AMD’s stock price, have a median target of $16.00, with a high estimate of $27.00 and a low estimate of $7.00. The median estimate represents a 36.66% downside compared to the closing price of $25.260 on August 27th.

The same media also reported that 15 out of 33 surveyed investment analysts had rated AMD’s stock as “Hold”, while 11 – as “Buy”. On the other hand, 4 analysts had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the AMD stock are presented as follows:

R1 – $25.505
R2 – $25.750
R3 (Range Resistance – Sell) – $25.995
R4 (Long Breakout) – $26.731
R5 (Breakout Target 1) – $27.590
R6 (Breakout Target 2) – $28.003

S1 – $25.015
S2 – $24.770
S3 (Range Support – Buy) – $24.525
S4 (Short Breakout) – $23.789
S5 (Breakout Target 1) – $22.930
S6 (Breakout Target 2) – $22.517

By using the traditional method of calculation, the weekly levels of importance for Advanced Micro Devices Inc (AMD) are presented as follows:

Central Pivot Point – $22.443
R1 – $25.537
R2 – $27.093
R3 – $30.187
R4 – $33.280

S1 – $20.887
S2 – $17.793
S3 – $16.237
S4 – $14.680