AMD April 25, 2024: A Possible Bottom
On April 25, 2024, I opened a pilot position in
AMD
here for a few reasons..
We should be careful here because the earnings will be released on April 30. And we can see recently that most tech stocks did not perform well after earnings, for example
IBM
,
META
,
NOW
Therefore, I am planning to keep this pilot position into earnings, and will consider adding to this position only if it works out well after earnings.
AMD
here for a few reasons.. - The stock seems to react well at the MA-150 (the orange line) on the daily chart
- On the weekly chart,
AMD
is trading at a meaningful support which is the previous peak from 2022.
We should be careful here because the earnings will be released on April 30. And we can see recently that most tech stocks did not perform well after earnings, for example
IBM
,
META
,
NOW
Therefore, I am planning to keep this pilot position into earnings, and will consider adding to this position only if it works out well after earnings.
Trade closed manually:
While the position works out quite well, we decided to close the position on April 29 into earnings.
