zwarring
I do not like the set-up here and expect more selling moving forward.
Trading at historically low multiple. Oversold. Ready for a big pop on the hourly.
Classic head and shoulders setup on the QQQ. The declining volume on the right shoulder is not a good sign here. However, markets have been detached from reality for a while because of stimulus and fiscal policy. Just an opinion.
Stop Loss $120 Target $140
AMD has bounced off support of the 100 day MA on high volume. RSI and momentum rising. 1st Target - $94.28 2nd Target - $99.23 Should see this in the next week or two. AMD moves fast.
If it bounces at the $88.69 level could be a good buy opportunity.
Pretty simple. Take risk off the table here if you are a short to medium term trader.
Potential support at 200 MA. Let's see if we can hold this over the next few sessions. If not potential support at 3028 and 2855.