.

Swing Trade Idea – July 29, 2020

Market View

Global markets are neutral in the premarket with USA slightly positive, Japan negative, Europe flat and China slightly positive. Yield curve is slightly steeper, USD is slightly lower and energy higher which is collectively positive.  Fed is on tap and major earnings reports after the close so expecting a quiet market ahead of the Fed. FAANGM stocks are positive in the premarket making Nasi the strongest index.  AMD earnings beat is providing a boost to semi names.

Premarket names:

AMD earnings beat; NVDA QCOM following AMD;  SHOP earnings beat FEYE earnings beat CRWD following; V down after earnings MA following; PYPL running ahead of earnings; BA miss; GE miss

Stock Idea; AMD

AMD earnings beat with upgrades and target raises with 90 the top target.  INTC delays are a catalyst.  I have concerns that it may be extended short term, but dips intraday are possible longs for a day trader. In the intermediate time AMD is likely higher.