AMD Entry, Volume, Target, Stop, Resistance

Entry: when price clears 130.79
Volume: with daily volume greater than 98.9M
Target: 165 area
Stop: depending on your risk tolerance; 119.40 gets you 3/1 Risk/Reward.
Resistance: 133 area, 141 area, 152 area, 157 area

This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.

Comment:

Got price but not enough volume. It's AMD, why not take the trade? It's OK to take the trade as long as you have tight stops and are comfortable knowing there is a good chance it will pull back from lack of volume.

Comment:

Your best bet, wait for proof that price want's to go higher. Wait for it to break over 130.79 (previous high from May 30) with volume greater than 98.9M (volume from May 30). Your chances of stopping out are much lower if you wait for confirmation that price want's go to higher.

Comment:

Technically we got price and volume, just not at the same time. If you took this trade at open because you hoped the volume would come - it isn't the end of the world. If we get a red day tomorrow, I would probably stop out and wait for a better opportunity, otherwise you risk a deeper pullback.

Comment:

If the price breaks clears 130.79, as long as the volume is average or better, I will take this trade based on the fact that volume is rising - there are buyers.

Order cancelled:

Original idea no longer valid - I'll publish a new idea when it improves.