AMD daily - symmetrical triangle
AMD is inside the down channel and last 5 months AMD is consolidating at the same price. Inside the channel, it formed a symmetrical triangle. Friday's move was a strong green day with decent but not great volume. This leg-up is confirmed with volume especially the first two days of it.
Price manages to stay above 8 and 50 days MA which is bullish, and only BigRed is above the current price.
RSI is neutral.
MACD both histograms and lines are neutral.
Overall: AMD's move above blue trend lines would trigger a buy signal. The buy signal would be triggered by crossing the blue dotted trend line, but it should be on volume bigger than 20 days average volume. If it doesn't cross price could consolidate inside a symmetrical triangle waiting for the report and next move.
Price manages to stay above 8 and 50 days MA which is bullish, and only BigRed is above the current price.
RSI is neutral.
MACD both histograms and lines are neutral.
Overall: AMD's move above blue trend lines would trigger a buy signal. The buy signal would be triggered by crossing the blue dotted trend line, but it should be on volume bigger than 20 days average volume. If it doesn't cross price could consolidate inside a symmetrical triangle waiting for the report and next move.
Comment:
75.87 out. What a trade. RSI is overbought. In this market condition, I have with it.
Income trade of 5.1%
Income trade of 5.1%
Consistency is the key of success....
Stop loss just below 70