cdnbuzzard

cdnbuzzard Updated 

AMD has made an impressive bull run during the past month from a low of 60.05 on January 6th to a high of 88.94 on February 2nd, for a total gain of 28.29 per share. This run was triggered by a key reversal, so it's possible that a key reversal will also signal its end. I would pay close attention to today's bearish key reversal, and the double-top that formed...

cdnbuzzard Updated 

I was scanning stocks for chart patterns and came across Immunogen Inc. (IMGN) with a double-top already formed. IMGN has been trading in a downward channel since February 2021 and shows no sign of stopping yet. The price has reached a major support level of about 4.97, with only one major breach back in May. On three occasions it has dipped below slightly to...

cdnbuzzard Updated 

For those of you who are following along with me on my little obsession with AMD, the past week was pretty exciting for those who were shorting the stock as the price dropped out of that short-covering rally like a rock for a $9.46 gain. AMD is now reaching a very uncertain area with 3 support levels to get through and it's actually touched an ascending trend...

cdnbuzzard Updated 

AMD has been in a bear market since December 1st, 2022. For those of you who took a short position, you have had to endure three major short-covering rallies. The first short-covering rally which began on December 12th may have made you reconsider your decision to short in the first place, and you probably got out at some point. But when is the best time to get...

cdnbuzzard Updated 

Perhaps. AMD has rallied for the past 8 trading sessions. The first session was on January 6 and ended with a key reversal (new low, closed near the high). Today, another key reversal has occurred (new high, closed on the low). This would indicate that AMD is likely to reverse direction and head lower. I'm going to say it will reach 64 by the end of January or...

cdnbuzzard Updated 

If you read my other idea about AMD reaching 50 by January, you will notice that everything seems to be playing out as expected. I'm still learning to analyze chart patterns, and I asked someone who is teaching me to take a look at AMD. They acknowledged the downward channel and the recent triple-top pattern. But they also pointed out that the triple-top was in a...

cdnbuzzard Updated 

AMD has been trading in a descending channel for the past year. A double-top has just formed near the upper resistance line. This would indicate that the price will go lower shortly. It's possible a triple-top could form before this happens. It's also possible that a cup and handle have formed and the price will break out from the channel. But based on the past...

cdnbuzzard

I recently started looking at Fibonacci arcs and circles. I see them as something similar to support and resistance lines. Charts have an uncanny way of touching support and resistance lines. I've drawn arrows where the chart touched or came very close to touching the two circles I drew. I noticed that ROKU is very close to reaching an inflection point where the...

cdnbuzzard Updated 

I'm going out on a limb again, only because it motivates me to stretch the limits of my analytical skills. As I was perusing my watch list last week, I noticed that AMD seems to have reached a support level of 56. I've zoomed out on the daily chart to show you the huge downtrend AMD has been following for the past 12 months. If the price continues to oscillate...

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Betting on a price increase after a sharp price decrease is called "catching a falling knife". In fact, you may have heard someone say, "don't try to catch a falling knife." The analogy is meant to sound dangerous because it is very risky to buy a stock that is dropping rapidly. The hope is that if you time it right, you will get in at the bottom and make big...

cdnbuzzard Updated 

COST (COSTCO) has formed a massive head and shoulders pattern over the past year, which seems like a no-brainer opportunity to get short. COST could possibly reach 440 by the middle of October and 407 by the first week of November if the price breaches the neckline around 464. A period of consolidation could delay these estimates by several days. Disclaimer: I...

cdnbuzzard Updated 

Netflix (NFLX) has been forming an ascending broadening triangle since May and fully established a support level between 162.71 and 169.70 from the middle of May to the middle of July. Then the price reached a resistance level of about 250 in the middle of August. In my opinion, NFLX is nearing the end of a 2+ week consolidation period and has formed a bearish...

cdnbuzzard Updated 

Background GOOGL has been trading in a channel between resistance level 119.68 and support between 105 and 102 since April 27th. On August 8th, GOOGL broke through the resistance level slightly before heading lower the next day, and it appeared that it was on it's way down to touch the support level for a 5th time in 3 months. But a surprise rally on August 10th...