Get started
ChemistNate

AMD currently at top of bearish channel

Short
Advanced Micro Devices Inc (NASDAQ:AMD)  
ChemistNate Updated   
NASDAQ:AMD   Advanced Micro Devices Inc
Trend Analysis AMD amdshort
5
0
trendanalysis amd amdshort
AMD has been in a bearish channel since November 2021 (one year). I see no impetus for it to break above the top of the channel, and thus I expect it to fall significantly over the next month.
Comment:
This is now a very high-conviction setup for me. I think I'll buy Dec30'22 70p, which are currently priced at 4.05 on IBKR. Depends how things look at the open on Monday.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.