AMD | Bouncing From Support To Resistance?
AMD appears to be bouncing in between support and resistance on the Dailly Chart. I entered my swing trade at $74.90 and plan on exiting at $100.98, assuming AMD cooperates and does what I want it to (if it does, I expect this to be a 2-4 week swing trade). Interesting trade in general. What do you think?
Comment:
Zooming out further, it's become more clear to me that we're making lower highers and lower lows. The lower lows pattern has currently been broken, however, if that changes and we do make a new low and THEN bounce, I will most likely sell my position around $90-$93 instead of $100.98.
Comment:
AMD has broken through support and made a lower low (as mentioned in the previous update). I exited my position for a small loss and will wait until I see an indication of reversal. At that point, I will look to get in bullish with my new target to exit at around $90.
