I think AMD still looks bearish on the longer time frames, but for now on the 15m it looks like a potential bottom with an inverse H&S. First upside target is $127.65 and it might go all the back up to retest the major trendline above.
Would be bearish if it falls back below the shoulders/neck line with a target area of $118-$120.
Would be bearish if it falls back below the shoulders/neck line with a target area of $118-$120.
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This was one of the few bullish ideas I had this week, but it rolled over with everything else. It looked to me like we had a fakeout below the August low which would normally lead to trapped sellers. Also had the inverse H&S but it broke the neckline anyway. Still has a chance to bounce if it can hold the recent low or hang around the August low, it did bounce after filling a gap today. For now it has broken below and failed on a retest of the neckline so we'll see. Very weak stock on all time frames for now until it proves otherwise.
You reap what you sow.
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Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
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Disclaimer
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You reap what you sow.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Related publications
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.