Getting a retrace back to the channel. I like AMD long so I will be waiting for a bounce. Around $78-80 would be what I will be targeting. I don't think we'll go all the way to the ~$74 area but we'll see how the week goes. If we end up starting a correction in the overall market we could we the lower end of the channel.
I have the exact situation drawn....volume profile + trendline + EMAs. I feel the gravity toward $55 is strong, but the market needs a substantial catalyst to pull back to that hungry $55 range...... S&P correction would be nice. maybe holders will sell to push price for the cheap. Cheers!
itshabib
⋅
@RenoBahamas, I think $55 would be tough unless we get a big correction, something along the lines of a couple of hundred points on SPX. So far, the bull train is still going.