As requested, my thoughts about AMD! 👍
As @adamh6847 requested, I’ll share my insights about AMD with you guys!
Since it lost the red line and it did several bearish divergences on the RSI, AMD is falling, but what to expect next?
Now the RSI is pretty oversold, indicating a possible rally in the 30min, maybe to the 92 again. But we have no bullish confirmation, just a possible rally.
The fact we are just above the 20ma in the 4h chart might confirm the rally thesis, but AMD is still having some problems around. Unless we see a very good reversal pattern around, the chances are that AMD will drop to the 85 – 87s area.
Today’s movement was very bearish, and if we don’t see something great above this 20ma, then it’ll just fall to our supports. Until recently, the RSI was very overbought, and this was another warning sign for us.
We have no buy sign, but I see no reason to sell it, as we are already close to the supports. I think we should wait for more patterns.
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See you soon,
Melissa.
Since it lost the red line and it did several bearish divergences on the RSI, AMD is falling, but what to expect next?
Now the RSI is pretty oversold, indicating a possible rally in the 30min, maybe to the 92 again. But we have no bullish confirmation, just a possible rally.
The fact we are just above the 20ma in the 4h chart might confirm the rally thesis, but AMD is still having some problems around. Unless we see a very good reversal pattern around, the chances are that AMD will drop to the 85 – 87s area.
Today’s movement was very bearish, and if we don’t see something great above this 20ma, then it’ll just fall to our supports. Until recently, the RSI was very overbought, and this was another warning sign for us.
We have no buy sign, but I see no reason to sell it, as we are already close to the supports. I think we should wait for more patterns.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
