In a downtrend since forever, and lowered ER expectations. Thinking it drops to 11/2012 lows of $1.81ish or lower. $2.00 July 24th Puts @ .13 expire week after ER.
AMD SHORT 1.83 /1.63 major support level. Expecting price break through & see new lows..
A rough few days for the investors with long positions. Today AMD is finding support on a historical support level (marked with the rectangles ~$2.25). I won't mark this chart "long", but I'll be watching AMD to break through the 2.65 resistance before considering a long position personally. I've circled the most recent RSI entrances into the <30 oversold...
squeeze of support and resistance means the stock looks to make a move. Been hearing alot of buzz about the new AMD cards that are yet to be announced, could drive the stock up I think.
At close today we had the MACD crossover while the price rested on the bottom of a symmetrical triangle pattern. I could see breaking through the near support lines and falling to $2.90 fairly quickly if we break the bottom of the triangle.