AMD Panic —at risk of a major crass

Jun 2

The current move can't be sustained. AMD is exhausted on the bullish side—buyers are exhausted and all the indicators are highly overbought. It is a situation that has never been seen before. What follows, is a crash like no other on this stock.

The last two weekly sessions show waining momentum on AMD. At first, we experienced a very strong advance with really big candles, sustained bullish action. After mid-May, things changed. AMD showed some weakness based on a red candle. Then again the week before last. There was some selling but this selling was bought. Last week hit a new ath on declining volume, and this week sellers are taking control.

This is a friendly reminder. The market cycles between bearish and bullish and an overextended move can be sustained only for so long. The longer it takes for the crash, the harder the fall. This will be a correction like never before. A major panic will grip the chart and this will result in a crash.

Namaste.

Jun 5

Trade active

This last candle is a very strong bearish signal, it comes to end the session/week. This spells doom specially as it comes after a new all-time high. This chart setup calls for an amazing SHORT. AMD is going down together with NVDA and Gold.

You've been warned.

Namaste.