Madrid

Double top, negative momentum divergence

Short
NASDAQ:AMD   Advanced Micro Devices Inc
The technical levels show a negative momentum divergence, which usually flags a bearish reversal of the trend. At this point $AMD is making a double top with the previous ATH, and unless it gains traction enough it will tray to break it, the volume is weakening and so the momentum, so this doesn't seem to be the likely scenario. The indexes in general and the other important stocks are showing the similar weakening patterns. I wouldn't be surprised if even if the ER show good numbers, the market would try to take it down.

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