AMD has likely completed wave 2 through a 61.8% retracement of wave 1, this correction has also brought AMD to a major support structure. Volume profile and previous support/resistance tests show this structure is strong. Anticipate AMD beginning a Wave 3 upwards over the coming weeks. AMD reports earnings on 10/27 which can act as a fantastic catalyst for a powerful move.
Trade active
Fantastic entry here on AMD, high conviction play here. Very choppy action on 10/22 but I entered several positions, January calls and shorter term 10/30 calls for some quick profit.Note
Some after-hours moves due to INTC earnings but couldn't hold the rally. Still a decent retest of the break-out trendline for this descending wedge.Trade closed manually
Trade was closed manually when we failed to overtake the 85 target. Looking for new entries into AMD.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.