AMD - Gap filled and Rejected by MA20; 108 is key level to watch!
Daily Chart
- Gap 108 to 117 has been filled! ==> What do they say? Almost all gaps get filled!
- Bottom of gap 108 held in the test of support
- MA5 yellow has crossed below MA20 green 21 June
- Price action has come up to test MA20 green on 5 July and got rejected
- Price action is now in an early buy channel
30mins Chart
- Price action in the gap range was in a series of buy and sell channels
- General upwards trending as seen also on Daily Chart
What to watch for?
- Will the buy channel continue? Key is need to break 116/117 which would then also bring about a MA5 cross above MA20
- Any break below 108 (also the MA50 blue coming up) will mean another leg down to 102 or 94 (bear flag playing out)
Support wise, I still like 95 and 85 (MA200). Where I am selling puts strikes on.
@TigerStars @CaptainTiger @Deposit @LMSunshine @melson
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Great ariticle, would you like to share it?
Retest $112 before the big move up?
AMD is a Long man’s stock. Weak handed Longs will lose money. Shorts will lose too.
What was the highest point of AMD in the last few months?
AMD trading like a meme stock, not on fundamentals. Be careful.
Microsoft Xbox Activision deal is HUGE for AMD!
Concerned..AMD backed off of a 6+ gain and closed in the green, NVDA backed off of a 20+ gain and closed down 5+. Are you RAGGING on the NVDA board?
Since I bought AMD in February 2016 I’ve watched AMD do sequential surges. Bigger ones are coming now. It’s time for more and bigger surges.
Why not do NVDA? Think it’s much better than AMD
This stock is over valued and always be the 2nd choice behind NVDA
There is No question AMD Won the Race to the Bottom