After a strong uptrend, AMD has formed a Head & Shoulders pattern. Stock should consolidate for a few days before falling further. Do not enter trade until stock has broken the base of the H&S on a strong candlestick down.
Note
Crikey! Will you have a look at this. Three little spinning tops all in a row. We only encounter a creature like this when the traders have no clue where she's headed. Sitting right on the 20 DMA too, resting before she attacks. She's (AMD) going to pop one way or the other, let's watch and see what she does next.Order cancelled
Well I was a little early on calling the three spinning tops, but we did have a pop, just in the wrong direction.Note
Looks like it happened after all, spike in volume on the break out confirms the move.
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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.