$AMD Support and Daily Potential Projection (Still Long)

$AMD is trending down after a strong open.

It still remains well above the support line in its trading channel. The 97.8 top out could be re-realized with an afternoon run.

A partial-exit above 99 is not a terrible idea, but who knows what these fingers will do if that level is quickly reached.

This remains a LONG LONG LONG, and nothing has failed in the trade channel, even with this potential midday pullback we might just see.

GL, etc.

-BDR

Note: See attached idea Re: Support above 97 and also the original LONG call. Thanks!

Comment:

The hope is 99.27 or higher by tomorrow's close. It's going to have to make some post-mkt gains it can hold for this to happen. These repeated strong opens w/ subsequent weakening likely indicate this bull cycle is coming to its end. I may have more on that issue by itself, tomorrow or over the weekend.

Comment:

The run up to 97.1 happened and the previous strong support revived at that mark. We should see a strong close now that the resistance mark there is being broken! Currently 97.25 -- looking for a close 98+

Comment:

That 97.1 mark is an odd one: Pullback this time. It should re-test one more time before close, but it could sidewind most of the way before it. There is a hint of support at the mark of 97.1 but hardly enough to push it far past onwards to 98. Micro observations there.

Comment:

After all the drama, it seems we're headed to likely close a nickel or dime above the open, which did have its own pre-market rise. This rocket ship still cannot yet take off. There are only about 100 minutes left in today's trading session and AMD is still finding a ton of resistance at the top of the channel.

Comment:

Expecting a close at 98.6 to 98.9 tomorrow if SPY continues its ascent. Keeping a close eye on overall market direction should give a better idea of when $AMD is going to really, really pump. This consolidating action has been still upward.