That is quite some downside you're seeing. Do you purely look at TA, or also at the company? Because their Q4 ER were actually pretty good, and Q1 will be the same.
captain_smollett
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@Thierr, hello Sir! I only look at the charts =) My trigger for going short is a fork but, if the fork is broken, it will surely stop me out. A target price is based on a triangle breakdown, it may take even some months to get there but I´m OK with that...
Thierr
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@captain_smollett, thanks for your reply. Looking for your insights again: do you think the fork (which is kind of a 2 month downtrend) has been broken with 10.95? does it need to close above?
captain_smollett
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@Thierr, I will close short now as fork ML is broken now. Lets see where it goes
IMO the bottom was 9.7 and AMD will have plenty of upside in 2018.
HarrisonFjord33
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@Thierr, agreed. the correction off the high has traded as a textbook flat. I'm tentatively labeling $9.7 as a primary II low which corrected the '15-'17 primary I uptrend. still not 100% $9.7 is the low ... the move from there still looks corrective, maybe another swoosh down to flush-out weak longs before the long-term uptrend resumes.
If $9.7 holds, the minimum price target is $23.50. Cheers, and gl in your trading.
hohuang
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@Prometheus333, is primary II is confirmed? or still wait for confirmation? thanks!