MarketMotion

AMD- COMING DOWN WITH TIME

Short
NASDAQ:AMD   Advanced Micro Devices Inc
Looks like a 5 wave completion and ABC correction waves in process (A complete, and B in process and about done imo). Looking for a C wave down in a 5 wave form. Seen a good bit of option flow come through on Friday indicating some call selling taking place.

Hourly demand zone in this 91-92 area and is where I would be happy to cover and I am bullish AMD long term but bearish short term. Would be looking for the October/December puts here.

GL!

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.