AMD Play:
* Enter on expanding volume on a break of $88.50
* Exit at $99.50, look for pullback for re-entry
* Full pattern price target: $106.81
* Stop loss 2 ATR at entry, around $84.50
* PnL Ratio: ~2.00
Rational:
* Trading within a rectangle pattern for the past 199D 5H
* AMD trades with SPY 51% of time, we can see a recent large rectangle...
We can see a head and shoulders forming on $SHAK on the 1D, but it is much clearer on the 4H. Volume has been at a relative low since the first shoulder, and significantly lower at the head than the first shoulder. There is an explosion of volume on the recent red candle, and a bear flag forming on the 1H.
Target: $32.22
Entry: $46.65
Stop Loss: $50.94
