AMD is still firmly planted in the bull flag channel, trying to break out and repeatedly poking the descending trendline. A failure to breakout would mean a 3 falling peaks bearish scenario and retreat to the low 80s. This will resolve within the next few days. (no position : neutral bias)
Note
Lost the 50DMA today. We'll know if it was a bear trap over the next 2-3 days trading or a signal of a breakdown to come.Still watching & patiently waiting for clear signs of a reversal or a few days of the stock showing some sort of bottoming/basing pattern.
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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.