$AMD Bulls, Don’t Get Too Comfortable…

I’m looking at AMD and I don’t like what I see. The stock is stuck under this $165–170 resistance, and every time it gets up there, sellers push it back down. The chart is forming what we call a “rising wedge” — that’s usually bearish because it shows price climbing on weaker and weaker momentum. Even the volume is fading, which tells me buyers aren’t really committed up here.

If AMD breaks below $160, the next stop is around $150. And if that level doesn’t hold, we could see it drop all the way back to $130, which is where the 200-day average sits. That would be a clean reset of this whole move.

So for me, this setup leans bearish. The risk/reward is better on the short side right now — selling into $165–170 with a tight stop above $172, and aiming for $150 or even $130 if momentum cracks. Basically, this chart says distribution, not accumulation.

If there's a clear break of structure on the trend line, be ready to short. Manage your position size properly and God bless you all.