AMD - First Target For Entry Hit But... We've been looking at the 200 day MA with a view that this may be our first liquidty landmark for an entry into AMD.
But indexes having been building bearish momentum over the last week and so has AMD to the downside.
As I have been saying to my clients - the sting the the tail is often concealed until the latter phases of a trend and that could be happening here.
It did look shallow and fairly stable but now falling away.
Starting to consider that AMD could get all the way back to the retracement Golden Window @$76.6, but we will have to see how the Nasdaq continues and also if dollar hits a top.
IF it does that would be a GREAT deep retracement buy in a solid trending stocks.
Quite a few more moving averages below also that may see a bounce and a lot will depend on NDX, DXY.
Close to oversold on the day RSI so we may see some sort of bounce soon and perhaps the 200MA will be the liquidity landmark for a shakeout and it could even be the low - but i'd like to see more before committing here as indexes look dicey.
We are looking at AMD regularly and this whole area will likely be a steal as the bull market gets underway.
Not advice
