This stock has taken a beating since its event and purchase of $XNLX and it retested that support, bounced and broke resistance. My price targets I tried to mark out in this video, and alot of these are smaller so if you are scalping then pay attention to those big ones, and fill in on the smaller time frames. $AMD is a no brainer. Great CEO, profits, expansion,...
Target ~110 to 120 for this move. I like the move off the bottom so far and waiting for a wave 2. Expecting a little lower right now. More bearish under ~79
Head and Shouldes on higher timeframes. $70 is next support. we break below $70 then price will go down to $67.I won't long unless price holds above $74.60
AMD is almost back to the ATH(all time high). we bounced from this previously and each time it approached it would sell off. It looks like we have found a temp Sentiment all time High. This will be a nice short or put as long as we are able to stay under that price. # LetsMakeMoneyTogether
Short idea is summarized as follows
1. stock has gone parabolic and these typically have aggressive corrections
2. robintrack shows sentiment is extremely optimistic so would like to make a contrarian bet
3. assuming a SZ 84-88 so taking a $4 risk and executing the trade via November PUTS. 80 strike
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I won't short unless AMD breaks $69.05 on Monday. The market should rally on Monday imo. I would love a clean break and retest of the resistance level ($69.90 before I hop in. My long PT is $72 and my short PT is $67. Higher timeframes are still showing bullish momentum to the upside. We could see $70-72 before AMD falls. it should run up before ER
