AMD @ CRITICAL area of support - long position opportunity

30 мар. 2021 г.

As you can see on the chart, the area around $74-75 is historically one of the strongest areas of support/resistance for AMD. Using your fib retracement, a prudent price target for a reversal is in the lower to upper $80's, with $89 being another critical area for traders. IMO, AMD is strong enough to not only hold this area but to reverse to the upside in the near future (many options contracts expire April 1st) ahead of its earnings (April 27th).

Entry: $74-75
1st profit taking area: ~ $84
2nd: profit taking area: ~ $89
Stop loss: ~ $72