AMD - Bounce off the $100 Level
Updated
As everyone on Twitter is expecting right now, I believe there will be a strong bounce at the $100 level.
Weekly Timeframe:
Daily Timeframe:
65m Timeframe:
Price Targets:
Calls:
Puts:
Weekly Timeframe:
- Quadruple Bottom - much like SOXL
- Massive volume at this level
- Strong Volume shelf
- Strong Hidden Bullish Divergence
Daily Timeframe:
- Triple Bottom
- Strong Bullish Divergence
- Solid Volume Shelf
- $100 is a strong psych level
- Earnings is soon
- Bottom of an RSI-based demand zone
65m Timeframe:
- Strong Bullish Divergence
- While volume is higher than normal, seller volume has decreased
- Options flow strongly favors calls - targeting $110
- Falling Wedge
Price Targets:
Calls:
- PT1: $103.75
- PT2: $105.30
- PT3: $106.20
- PT4+: $110.00
Puts:
- Break of $100 Level only
Note
This medium bullish divergence has become strong bullish divergence. I am in puts as mentioned, but I will continue to watch this for a reversal.
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