Side note, The magnitude of the bounce the US economy has had since the bottom in DEcember has been insane and unprecidented. I've never seen a bottom not get tested and just fly up vertically. Especially with poor GDP estimates and economic outlook data. I was pretty heavily short back in Feb, so that hurt a bit, but all you can do is learn from your mistakes...
The AMD chart has a few key things that caught my attention and I figured was worth sharing. Charting a fibonacci retracement from our absolute peak in September 2018, and the subsequent October 30th and December 26th lows, we can see some key levels for AMD stock. We can clearly see that AMD has strong support in the $16-17 price range, with the two reversals...
This is a short term lowered risk play based purely off technical indicators. Due to the lack of fundamental analysis behind this trade, I recommend a smaller position size. I am very bullish long term on AMD, however I see a decent short opportunity as a short term play.
AMD is approaching our first resistance at 25.23 (horizontal overlap resistance, 50% fibonacci retracement) where a strong drop might occur below this level pushing price down to our support at 19.61 (horizontal swing low support, 61.8% fibonacci retracement).
Stochastic (21,5,3) is also approaching resistance where we might see a corresponding drop in price.
Conclusion for today’s AMD stock analysis: Failure to close above $28.53 implies more downside for AMD that should see price close below $16.16.
AMD’s technical analysis for today is carried out using a 6 hour timeframe a candlestick chart, with attention drawn to the current trading zone in AMD.
Meandering price action since October 30, 2018 till current date...
On my last post i covered why AMD is going to hit the the 24 USD mark, and then drop.
Well we went up slight higher, to 25USD and we began dropping.
So where does that lead us? If we look at the previous analysis we just finished C, and now we would go for the 1:1 extension of A-B which is slighty higher at 7 USD.
Beware bulls, its going to get nasty.
AMD is approaching our first resistance at 23.67 (100% Fibonacci extension, 38.2% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 14.63 (horizontal overlap resistance, 61.8%, 76.4% Fiboancci retracement).
Stochastic (34,5,3) is also approaching our first resistance where we might see a...
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It seems that the wave C is missing to finalize this correction. We still have room to go down potentially to the 0.382 Fibonacci level, around 14.
With Nasdaq and the Dow officially in a downtrend, and have a lot of further down to go, i believe tech stocks are going to have the biggest impact on it.
Right now AMD is doing a flat ABC, where it's going to test 24 USD again.
I would place a short at 23,8 USD with a stoploss at 24,5 USD.
As the title says i expect it to drop to 6 USD. With could...
Hey everyone, after a thorough analysis of AMD, I have concluded that a 40% motive wave is on its way, sending the price from 18.73 all the way down to at least 11.21 but don't be surprised if it hits 8.00! I would strongly suggest laddering out of the position to maximize your profit since an exact target has not been determined.
I am so certain of this move...
I've been playing the AMD run up from $20 to $32 with Call options, Shorted $32 because if you look at the weekly, its a trendline from the 1990s, and closed my Puts around $16 because it was a fib level. This chart plays like a cryptocurrency except that it's easier.
Out of curiosity I looked at a few "short interest" indicators and lo and behold, most of the...
I am bearish overall on equities so I am spotting ideal entries on overbought assets, especially those that have generated a lot of buzz over the last few months. AMD is overbought and approaching resistance. Should present a nice trade setup!
Could short with targets at green area. Or long at the green target areas.
Beware Longing though, this could very likely have much more downside than that green target range. Could go into the mid-low teens. May want to keep a portion of a short running past the target zone.
My AMD calls have been monstrous for the past couple months so keeping the streak alive.
Long and short scenario. Either could happen.
The levels themselves are best places to enter/exit. But the zones around the groupings of colored levels are also acceptable.
We could hit the green zone, and pop to the orange zone.
If we go below red line at green zone,...