AMD has been on a massive uptrend, the selling off right now is nothing to worry about. At first the market reacted badly to the Ryzen but in coming days I believe people will realize how good it actually is.
From a technical stand point the area's of support are between 12.92 and 12.42
AMD is trading above its 50 SMA which is widely referred to as the institutional buy/sell line, which also confirms the trend. If AMD cant hold between its support this will be the last place it can catch footing before officially turning around into a down trend.
Summary:
Short AMD to 12.30's
Buy AMD if holds at support levels, or 50SMA
Of course, this is just my own opinion, and do not take this as financial advice. Do your own research before trading stocks as there is great risk involved.
From a technical stand point the area's of support are between 12.92 and 12.42
AMD is trading above its 50 SMA which is widely referred to as the institutional buy/sell line, which also confirms the trend. If AMD cant hold between its support this will be the last place it can catch footing before officially turning around into a down trend.
Summary:
Short AMD to 12.30's
Buy AMD if holds at support levels, or 50SMA
Of course, this is just my own opinion, and do not take this as financial advice. Do your own research before trading stocks as there is great risk involved.
