Shooting star or big doji its bearish pattern on daily candles - Bearish signal can be triggered below 720 - Overbought indicators - Expected Split at 20 Jul so its risky trade to short prior to the split process but technically its overbought and can be corrected to the level of previous major breakout levels. cancel short idea above ATH Only!
AMD one of the first stocks i traded, showing signs of a repeating H&S pattern, i likely return to the purple fib line before right shoulder is established, nice short. It goes against the momentum of the momemtum of the MA on the Monthly chart but i think a H&S squeeze can be fit in. Strong mirror resistance level at the top of the three peaks can be seen.
Directional Bias: Short Price Target: 7140-7160 Good Entry: 7000-7020 Risk/Reward: Max Risk of 30 points/Potential Reward of 100-130 points If target is reached on the idea titled "Some NQ Loving", it would present a good opportunity for a little retrace. Given how weak AAPL is, a gap fill type move isn't out of the question.
I like it for a short term swing near a technical area on the chart.