It is the TIME OF INSTABILITY for the world. Imposing tariffs on Chinese goods by the State, revenging back by the Chinese officials, and raising tensions in the Middle East are just some of the headlines that put the world in an utterly unstable situation; And investors are already reacting to this. For AMD, I am bearish and I am waiting for a good short entry point. The stock rejected raising over ~$28.50 and just recently broke below ~$27.00, a level that supported the price for about 10 days. Nevertheless, AMD's trend is still upward since the rapid decline in late 2018. I am guessing the chart pattern is a Heads-and-Shoulders Tops, Complex. The breakout occurs if the price closes below the neckline on the daily chart. This seems likely especially when both MACD and AO are indicating the absence of bullish momentum. The "bulls' back is broken" on daily MACD, but on the hourly chart, a minor bullish momentum is present. For an entry point, if any, I will update the analysis...
Stay tuned!
Stay tuned!
Trade active
Trade closed: stop reached:
1.3% Loss
