I see the fundamentals but I dont see how these prices can be sustainable technically, by the chart its either bulls pushing the limits, or large/more buyers getting in; both making the correction (if any) all that more severe. Looking at past of AMD the M chart doesn't seem to reassure. By the chart its positioned to correct due to being seemingly over extended, especially considering the correlation to SPX500. However, both have shown resilience over the recent past.
I am trying hard to resist the temptation to jump on the wagon here, as 54 still offers upside fundamentally. Either it:
1. Continues and maintains these levels
a) Large investment holds withstanding selling pressure.
b) New buys cash out sellers.
c) Renewed buying pressure from old buyers/ FOMO
2. Follow through of weak points
a) Temporary buying pressure subsides/ sell-off
b) Change in investor perception/ limit reached.
However, I imagine if money remains on the table these levels could be held artificially, all that considered its difficult for me to see past the technical with this one at the moment and I will try hard to resist the temptation to get in.
W:
M:
I am trying hard to resist the temptation to jump on the wagon here, as 54 still offers upside fundamentally. Either it:
1. Continues and maintains these levels
a) Large investment holds withstanding selling pressure.
b) New buys cash out sellers.
c) Renewed buying pressure from old buyers/ FOMO
2. Follow through of weak points
a) Temporary buying pressure subsides/ sell-off
b) Change in investor perception/ limit reached.
However, I imagine if money remains on the table these levels could be held artificially, all that considered its difficult for me to see past the technical with this one at the moment and I will try hard to resist the temptation to get in.
W:
Trade closed: target reached:
Wow it happened, too bad theres always a awful news sentiment to accompany down trends in the markets...