AMD wicked right off of the 100% fib extension after 3 consecutive days of insane bullish momentum... This is also the exact height and price range from the May 13 (bottom of cup) low to July 7 (upper lip of cup) high. Textbook target price of a cup and handle breakout has been reached.. This extension level is most likely the end of this breakout move in the short term. If showing signs of weakness or overall bloody market, puts can pay here but be cautious as it can always keep pushing higher considering the recent volume of price action. Short term 🐻
You are insane to short into this volume. Might as well just transfer your money into my account. Much easier than watching your shorts and puts get destroyed.
UnknownUnicorn25477415
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@ambler1 that's why I mentioned the risk considering the volume and my analysis was invalidated when it broke through the fib level. Thankfully I took no short position
MarketToday
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it should pull back right?
UnknownUnicorn25477415
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@MarketToday nope.. Blew right past my level. Bullish momentum too strong