Check AMD, I'm not entirely sure yet, but something about this chart is screaming bullish again. Last chart update was pretty much short over 171 and we pretty much stuck to the chart. Now that things are settling, the next move is starting to appear. There is potential we see the move from 169.99 to 207. If we cap out near 207 or 209 and drop to around 192, it can take the price up to the 250 target, but i wouldn't count on that as a for sure bet. I still like the chances of 207 before we see the next major downside. This is pretty much the exact same chart I posted last time but with a few lines removed and we're on a smaller time frame. Those will be linked. Good luck!!
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I LIKE THE STOCK. I THINK. If it keeps holding like this, I really like the upside.
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Opinions? Are we saying AMD just confirmed support on the Daily Chart? What do you think? I see the next target down, but should this be the flip, it leads to a nice climb on the underside of a trend, which then rejects, likely a new all time high), which then has us going down into the lower number ranges.
I think after the uncertainty about Iran Israel is over it’s going to run
phillips_dustin
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Went in on this dip Friday.
nicktussing77
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@phillips_dustin, I like that move. Does AMD show 154 as a potential open on Monday, Yep. BUT also, AMD forms this pattern quite often and the next move is "usually" (quotes because curses n stuff), but usually the next move is up. The steepness of this current pattern when you compare it to the past puts the price comfortably at 252. From there, it can keep melting upwards towards 320 and higher, but that is further so nothing to really even consider atm. I have to say, I think this movement is intentional and the price is being run up along with the rest of the market in order to cause another covid type crash. An excuses to do that would be overseas tensions so you're probably onto something. Although, I doubt uncertainty is the word with how rigged the market feels, seems like a lot of insiders have been catching a lot of lucky breaks on news through the entire market.
phillips_dustin
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I’m currently at BE on not too large size for me at this level for $165 weekly options. I think we get a small bounce Monday that takes us to $167-$168. It dropped -4.25% FRI and AI isn’t going anywhere my 2 cents. Now I don’t think it runs to $180 but a small bounce here is due
nicktussing77
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@phillips_dustin, I have a 250 amd call position, fairly small, like literally $10.00, but the upside should it hit because of the price I got them at is basically free money. So honestly, I'm kinda playing it similar to you it seems by being patient and seeing how big or small some of the better chance bounces are, and going from there. Option wise though, I gave myself a lot more time than weekly, but I think you honestly have a good shot at this level. Let me know how that trade goes for you, hope you end up making money!!
phillips_dustin
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Hopefully
phillips_dustin
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When the market dips 500 points it usually rewards with a small comeback the following day. Almost a 70% chance
phillips_dustin
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I have 5 $3.70 contracts (roughly $1800) but hey yolo on this
nicktussing77
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@phillips_dustin, I considered a move like this some 3k total buy in, but I chickened out because the last tick before deciding to buy didn't go the way I expected and I fully bailed out of the trade setup, which ended up being a smart move, but it wasn't smart, because, imo, it was more an emotional move rather than a technical decision and it should almost always be technical decision, but having said that, you create your own luck by making sure every trade is as favorable as possible for you, so if you do make a "mistake" you still have a chance to profit. Those options look like they wanna run up to 11.11 should AMD open green and just go up for about an hour. I'm looking at Tesla for a bigger buy because I really like the look of that stock, it is honestly doing something similar to AMD, but I think the profits will be way bigger, and more potential to really swing into the downside movements with puts in order to compound, but i still have no idea if I'll end up doing it that way. I like to have cash on the weekend not locked into trades in order to jump into potential crypto trades, but the dip is still kinda dipping so I'm currently sitting on my hands waiting to see when I want to buy, if I even want to buy before monday AM.
phillips_dustin
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We will see. I feel like I’ve stayed away from swing trading for a while. But market tends to overreact to bad news and when we get a huge 500 point drop or 4-5% drop it’s typically followed by a 1% gain