AMD Going, Going, Gone?
I think it is obvious by now, but sometimes a break-out can reverse just as quickly, but this pattern is a Megaphone Bottom. It suggests, after large ups and downs in a stock's price, that the outlook is now Bullish after the price breaks above and beyond the Second Peak (4/29-30). I grabbed a $93 Call this morning at open and by close, it had doubled in price. That was with the news the Xlinix deal was approved by part of the European parties involved, I believe there is one more that needs to give a 'Yes' or 'No' to the deal...no idea when that will happen. Beyond the deal/Pattern AMD makes very solid products. AMD, along with CSCO(Cisco) I feel have been undervalued compared to Nvidia and the like. Anyways, make that $$$$! Peace!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.