AMD: When will it stop dropping?
Hello traders and investors! Let’s see how AMD is doing today!
First, we are triggering a bearish pivot point at $ 87.45, along with the 21 ema, meaning we have more to correct.
The correction came with volume lower than the average (I always like to use a 21 ma in the volume too), and this means that this is just a pullback, despite the bearish structure.
After we hit the resistance at $ 94.21, it seems AMD will seek the 21 ema in the weekly chart, meaning, it has more 2 or 3% to drop before it stabilizes itself.
The 21 ema in the weekly chart has been working very well on AMD, and I think it is a reliable support level to work with.
I don’t see AMD as a sell, but it could be a buy after it drops a little bit more, if it does the right patterns. In mid-May, AMD gave us a good entry point below the $ 80, when it did the Piercing Line pattern above the support level, but now I see nothing interesting.
It is worth keeping an eye on AMD, and if you liked this idea, remember to follow me to keep in touch with my daily updates. Also, support this idea if it helped you!
Have a good weekend!
First, we are triggering a bearish pivot point at $ 87.45, along with the 21 ema, meaning we have more to correct.
The correction came with volume lower than the average (I always like to use a 21 ma in the volume too), and this means that this is just a pullback, despite the bearish structure.
After we hit the resistance at $ 94.21, it seems AMD will seek the 21 ema in the weekly chart, meaning, it has more 2 or 3% to drop before it stabilizes itself.
The 21 ema in the weekly chart has been working very well on AMD, and I think it is a reliable support level to work with.
I don’t see AMD as a sell, but it could be a buy after it drops a little bit more, if it does the right patterns. In mid-May, AMD gave us a good entry point below the $ 80, when it did the Piercing Line pattern above the support level, but now I see nothing interesting.
It is worth keeping an eye on AMD, and if you liked this idea, remember to follow me to keep in touch with my daily updates. Also, support this idea if it helped you!
Have a good weekend!
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