jmalone1224

" Go back to that channel "

BATS:AMD   ADVANCED MICRO DEVICES INC
293 0 0
Well, it seems $AMD has reverted back to an old channel it once surfed pre-breakout. It did break out of the channel 4, 5, and 6 days ago but, at the same time AMD             was wayyy overbought. Now, we have convergence of the MACD lines, CMF             going negative, and the Bollinger Bands narrowing. It shouldn't take too long for AMD             to break, after hearing the XBOX news today. Just have to wait for the bands to widen up a bit, CMF             to go positive, and/or get divergence of the MACD ; volume is still way above average right now too. Broke out of the channel yesterday but, it just didn't have enough steam. Also, the green candles have shorter shadows, and bigger bodies, than the red candles which is a good sign; showing that buyers are stronger than the sellers here. Had the red candles had the bigger bodies than the green then I'd say it's not looking good, but that's not the case. I'm sure we'll see another leg up on here in due time, it's not as bad as the chart reads, I'm sure.
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