AMD, ANOTHER SEMI IN TROUBLE. A PERFECT SHORT

AMD is another semi company in trouble. Its chart says it all. It has no choice but to continue downward.

It could retest the broken support around $100, but it should fail in that attempt.

Head & Shoulders pattern is ominous.

The only thing on its favor is declining weekly volume.

There is no better crystal ball to predict the future performance of an asset than its own chart.

Comment:

Toda, 03/05/22 is earnings day. AMD is a good earnings producer, but the high dollar and its withdrawal from the Russian market may affect its results.
We stay bearish until it can close above $100 and stay there for at least 3 trading days.