AMD has been very strong the past week and bounced around in the 30's today. 30 has been a big level in the past as well, so no surprise we are struggling here.
. PA today made a push towards pmkt highs and was rejected hard coming back to 29.37 which was a level in play yesterday. From there we consolidated making a very nice triangle which we did close above the TL at the close, but after hours has rejected that as well.
Short Play:
Because PA intraday was bearish, and the daily being overextended, this could be a good short play here if the market is weak tomorrow
The last level to hold before the close was 29.80 So I would look for a short on a failed retest of this level.
29.68, or if we have a big enough gap down, 29.37 would also be entry spots.
Long Play:
The past few days with the volume growing on the daily, Tech and SPY being strong, AMD can also be a good long.
If we gap up tomorrow, would look for an entry at 30.60, 30.35, 30.12, or ultimately 30 if it is holding on a retest.
Main thing to spot before entries is a failed retest of a significant level.
Short Play:
Because PA intraday was bearish, and the daily being overextended, this could be a good short play here if the market is weak tomorrow
The last level to hold before the close was 29.80 So I would look for a short on a failed retest of this level.
29.68, or if we have a big enough gap down, 29.37 would also be entry spots.
Long Play:
The past few days with the volume growing on the daily, Tech and SPY being strong, AMD can also be a good long.
If we gap up tomorrow, would look for an entry at 30.60, 30.35, 30.12, or ultimately 30 if it is holding on a retest.
Main thing to spot before entries is a failed retest of a significant level.