AMD: Rising wedge and extremely overbought
There's an interesting setup here in the AMD daily chart.
After rallying off a base and shooting high, far from the earnings' levels, AMD is offering an interesting short setup.
It's worth considering a small entry here, simply based on the size of the target vs the stop loss.
The chart shows a potentially complete rising wedge or terminal triangle, which would imply a sharp selloff to commence soon, and reach the starting point of said structure in 1/4 of the time it took to form it.
Cheers,
Ivan Labrie.
After rallying off a base and shooting high, far from the earnings' levels, AMD is offering an interesting short setup.
It's worth considering a small entry here, simply based on the size of the target vs the stop loss.
The chart shows a potentially complete rising wedge or terminal triangle, which would imply a sharp selloff to commence soon, and reach the starting point of said structure in 1/4 of the time it took to form it.
Cheers,
Ivan Labrie.
Trade closed: stop reached:
Stopped out, was a tight entry, small risk size, so it was worth a shot.
This is why I got stopped...