AMD has had an explosive bullish move out of its flag pattern that it developed. It is sitting right under a big resistance lvl at $85.40. We had some conosolidation this past friday after that massive Daily candle. Let's see if we can break above the $85.40 lvl which would open up a move to $88-90. Keep an eye on SPY/QQQ this week to see if the market conditions are prime for a big move in AMD.
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I have been swinging August 100 Calls and closed my $83 Calls ITM this past week. I am looking to roll up for a day trade/swing on the $85.40 break. Let's see what the market brings us!Note
Big dump on AMD so far, let's see if we retest the flag breakout as support. May add some more 100C's there.Trade active
AMD seems to be running with NVDA today, both showing strength. Added some 7/2 $85 Calls at $1.02. Will put stop loss roughly 20-25%. Chart above shows the lvls I'm working off of for now. Still in august 100's.
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Let's see if we can close over $85.40. I've started closing out the above calls, now at $1.90.
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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.