NASDAQ:AMD opened today at $3.66. It did terrible pre-market and ate dirt mid-morning to mid-afternoon. Since the chart is already pre-planned from weeks ago there are only a few things to explain, but if you followed the previous charts you should already know.
Upper and Lower bounds are in Green Dashed lines set at $3.91 and $3.32, respectively. This has been developed from the two large spikes from the Manufacturing deal stuck in China. Anything out of this lane is out of the money for a trend-trade. Red Dashed line is the multitop resistance, spanning 2+ weeks at $3.74 - $ 3.75. This line is significant since there are 2 occasions so far that it breaks out and caries into $3.80 attempting to hit analysts target of $4.00.
Lastly, we have 2 Tiers of Support Lines: Tier 1: $3.60-3.62, This price is where the market has been trending most comfortable lately. It likes to bounce between hard resist and Tier 1. Tier 2: $3.45-3.47, This is hard support, multi-bottom. Dip-buy opportunities will exist between the Tier 1 and Tier 2
The Trade Setup: The trade today averaged $3.49 on the dip-buy at 750 shares, 250 blocks. $3.47, $3.48 and later at $3.52, when noticing the momentum picking up. Exit strategy is the 61.80% to 78.60% on Fibonacci retracement. Risk/Reward ratio is 3.17, target gain is 0.19 to 0.20 cents per share. Stop loss of 0.06 cents at $3.43 if it falls through Tier 2 support, which I had strong confidence it would not. Planning to cut half of position to lock in gains and power hour the rest, to potentially tackle hard resist cap at $3.75
Trading with user: @the_collector - Lets go! *Queue Danger Zone Music*
ปิดการเทรด ด้วยตนเอง
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Trade closed at 3:52. Average price: $3.63. This is a 0.14 cent gain per share. 4.01 % gain. Not bad.
ความคิดเห็น
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3:52 PM - The last remaining minutes were too choppy and bid and ask sizes stacked up to over 300k shares in the air. Need to make sure trades execute and are not floating before close.
Enjoyed reading this and helping me with my own learning. Thanks keep up the good work
MartyLardy
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We had a nice recovery today. NVDA dropped the bomb on AMD with the announcement of the 1080 and 1070 cards. Hopefully AMD will shot for the sky with its announcement of the Polaris cards at the end of the month. I'm looking for a symmetric wedge break out with an upward swing with in this month.