AMD long (two scenarios)
Updated
AMD long to 100.
Scenario 1 (red) - dead cat. AMD goes to test the flag bottom trend line and burst out on catalyst (e.g. new product release and updated guidance on demand).
Scenario 2 (green) - AMD continues but fails to breakout of flag structure while we wait for a catalyst (such as we saw with
NVDA). This involves AMD hammer on daily bouncing on decent support from previous ATH that were set.
I lean towards red scenario as I am a MACD man and I respect the macd crossover here. We will find out next week which scenario plays out. Either way. Respect the trend lines and buy dips.
Scenario 1 (red) - dead cat. AMD goes to test the flag bottom trend line and burst out on catalyst (e.g. new product release and updated guidance on demand).
Scenario 2 (green) - AMD continues but fails to breakout of flag structure while we wait for a catalyst (such as we saw with
NVDA). This involves AMD hammer on daily bouncing on decent support from previous ATH that were set. I lean towards red scenario as I am a MACD man and I respect the macd crossover here. We will find out next week which scenario plays out. Either way. Respect the trend lines and buy dips.
Note
red scenario playing out, more downside coming, buyers will come in around 78-80 range which is where i will start buying.Note
Bought the dip at 74, go long to 87 resistance
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