TradingView
JRambo2018
Jul 18, 2018 4:19 PM
Bearish Head and Shoulders
NASDAQ:AMD
15
Advanced Micro Devices, Inc.
NASDAQ
Description
⋅
Jul 18, 2018 4:19 PM
AMD is in a trading range and finding strong resistance at $17.00. Over the short term, I see AMD receeding to 16.50. If Support is not found at 16.50 and breaks its upward trend it could receed to 16.25 for support.
Chart Patterns
Trend Analysis
Comments
Phat1125
⋅
Jul 18, 2018 5:02 PM
A head and shoulders pattern is also a trend reversal formation.
It is formed by a peak (shoulder), followed by a higher peak (head), and then another lower peak (shoulder).
In your case the head is not higher than the shoulder therefore making your bearish head and shoulders invalid
JRambo2018
⋅
Jul 19, 2018 4:10 PM
@Phat1125
, Yeah, its not the prettiest head and shoulders but it did hit the trend line.
Phat1125
⋅
Jul 19, 2018 4:32 PM
@JRambo2018
, that doesn't make it head and shoulders from what I've read :P
More
It is formed by a peak (shoulder), followed by a higher peak (head), and then another lower peak (shoulder).
In your case the head is not higher than the shoulder therefore making your bearish head and shoulders invalid