Looking at the 15 min chart there is potentially a bearish cross on the MACD. From a day trader's perspective, I will likely look for puts with the strike price of 73 dollars, and see if the support holds.
AMD provided some strong consolidation around support today (2/18) on the $87/$88 level, and broke out of the current descending channel on the 15 min chart. This doesn't mean the trend can't pull back into the descending channel but cements an idea I have of an ascending triangle forming toward the $89 mark. If we gap up tomorrow, this COULD be possibly a start...
We have seen this pattern before and can possibly go lower. I love this stock and am going to expect higher in the future but right now I am gonna have to go short.
P.S. first time posting so please let me know what you guys think.
Positions: 7 puts @ 89 EXP 2/19/21
