AMD Broken out of Downward Channel - Consolidation below $52.50
0. AMD has broken out of the down channel from June 10th. Looking to retake the $52.50 level, and move to the top of the channel;
1. This is the same price action that was seen "time and time again" with the $47.50 level, and appears to be the same situation;
2. Many tests and re-tests of the $47.50 level were required, before a sustained $50 level (mostly);
3. If we can break and hold $52.50, or gap above, we MAY see sustained price action above this level heading into earnings;
4. This might be the first time in a while, that AMD makes a northward RUN after Earnings;
5. Stay tuned.
1. This is the same price action that was seen "time and time again" with the $47.50 level, and appears to be the same situation;
2. Many tests and re-tests of the $47.50 level were required, before a sustained $50 level (mostly);
3. If we can break and hold $52.50, or gap above, we MAY see sustained price action above this level heading into earnings;
4. This might be the first time in a while, that AMD makes a northward RUN after Earnings;
5. Stay tuned.
Bình luận:
UPDATE $50.00 to $47.50 Level
We would be remiss if we didn't talk about downside. AMD may fail at $52.50 and head down for another re-test of the $48.50 / $48.11 level, and possible $47.50, but something serious would need to be going on for that not to hold.
So I would be watching for entry levels at the following if you are long term:
$52.11 / $52.05
$51.75
$51.50
$51.11 / $51.05
$50.75
$50.50
$50.11 / $50.05
$49.50 to $49.75
$49.11
$48.50
$48.11 / $48.05
$47.50 to $47.75 (Always ADD if you are LONG TERM - Always)
Below this (These were prior consolidation levels and would need a market meltdown once again to reach these levels)
$46.11
$45
$44.11
$43.11
$42.11
So there is your BUY or SHORT and COVER update.
Cheers.
We would be remiss if we didn't talk about downside. AMD may fail at $52.50 and head down for another re-test of the $48.50 / $48.11 level, and possible $47.50, but something serious would need to be going on for that not to hold.
So I would be watching for entry levels at the following if you are long term:
$52.11 / $52.05
$51.75
$51.50
$51.11 / $51.05
$50.75
$50.50
$50.11 / $50.05
$49.50 to $49.75
$49.11
$48.50
$48.11 / $48.05
$47.50 to $47.75 (Always ADD if you are LONG TERM - Always)
Below this (These were prior consolidation levels and would need a market meltdown once again to reach these levels)
$46.11
$45
$44.11
$43.11
$42.11
So there is your BUY or SHORT and COVER update.
Cheers.
Bình luận:
Final Comment
I FIRMLY believe the $52.50 level will hold today, and we will break $53.11 tomorrow and run. Let us see. Short term predictions are always difficult.
- drchelsea
I FIRMLY believe the $52.50 level will hold today, and we will break $53.11 tomorrow and run. Let us see. Short term predictions are always difficult.
- drchelsea
Bình luận:
As in, the $52.50 will break shortly, and AMD will not look back. That is what I am trying to say. Stay tuned.
Bình luận:
If anybody is watching the AMD price action, as it slowly leaves $52.50 behind.
What you are seeing is accumulation, distribution and consolidation. As people are selling AMD, strong hands are SLOWLY buying. This is a slow rise, and shows accumulation. This tells us that a breakout is coming shortly, and please don't blink... I love this stock.
What you are seeing is accumulation, distribution and consolidation. As people are selling AMD, strong hands are SLOWLY buying. This is a slow rise, and shows accumulation. This tells us that a breakout is coming shortly, and please don't blink... I love this stock.
Bình luận:
I think the close today will be quite important.
Watch for the false breakout above $52.50 if you are day trading or swing trading this madman.
I would really be looking for the $53.05 / $53.11 break on major volume.
Momentum players will PILE ON, if it looks like a $60+ breakout.
If it happens, it will be fast, and maybe only a couple of trading days, and you will have missed it.