AMD - BEAR FLAG - Next Stop $64.50 / Average Down Into This

0. Notes to follow;

1. Classic Bear Flag;

2. We collared our position yesterday after the break of the channel;

3. Looking for entries down to and including $62.50 (if we get there).

4. We will bounce, the trend will change, this is a money maker.

5. Patience and proper entry points and average down is the key here.

6. $57.75 (MAX PAIN)

- drchelsea

Comment:

7. At the break of the Bear Flag Channel ($80), we went to a Delta Neutral Strategy. Simply put: We buy twice at many at the money puts as we have shares. We stay even, no matter whether we go up or down. We wait for the entry, and slowly add to our position, based on Delta changes on the way down:

www.investopedia.com...s/d/deltaneutral.asp

Comment:

$72.50 Support?

8. Also, please consider that Traders know that sub-$70 AMD may never happen, and many people missed the boat since $50. $73.11 / $72.50 may provide support today. But may not hold over the week...

Comment:

Wait and see time

9. We wouldn't be quick to judge the final destination here. Let's wait and see how it shakes up over the next few days. Tech is really hated right now. Perfect time to start buying.

Comment:

0. News

UK's CMA will decide on AMD's $35B Xilinx acquisition by July 6

seekingalpha.com/new...cquisition-by-july-6

This may take us down further as well...