AMD - REVERSAL SIGNALS - TRADING DAYS UNTIL JAN 2ND / SUPPORT
See my other posts for context.
Clear reversal signals, and the psychology of it all corresponds very nicely to the running out of momentum into January 2nd 2020. At which time investors will be faced with whether to:
1. Take all profits and pay taxes in 2021 and wait for correction;
2. Take some profits (maybe cover initial investment x 2 if you got in January 2019) and let the rest ride;
3. Re-balance your portfolio and lighten up on AMD, and add some other names that are good companies but haven't run up 302% in 2019
So this rally has run out of steam, beside mass psychology shows we are out of time. Only 1/2 day tomorrow to trade.
There was no December selling, so we can have NO January effect.
If you want to buy AMD you would buy today no?
Most want the pullback.
Self fulfilling prophesies here all around.
Some of the clearest chart patterns I have seen in years.
So if there IS no January selloff, this is THE GREATEST CHARTING CONTRAINDICATION IN A WHILE.
What do you do?
Depends how much profit you have? Maybe time to beat the rest to the door no?
Clear reversal signals, and the psychology of it all corresponds very nicely to the running out of momentum into January 2nd 2020. At which time investors will be faced with whether to:
1. Take all profits and pay taxes in 2021 and wait for correction;
2. Take some profits (maybe cover initial investment x 2 if you got in January 2019) and let the rest ride;
3. Re-balance your portfolio and lighten up on AMD, and add some other names that are good companies but haven't run up 302% in 2019
So this rally has run out of steam, beside mass psychology shows we are out of time. Only 1/2 day tomorrow to trade.
There was no December selling, so we can have NO January effect.
If you want to buy AMD you would buy today no?
Most want the pullback.
Self fulfilling prophesies here all around.
Some of the clearest chart patterns I have seen in years.
So if there IS no January selloff, this is THE GREATEST CHARTING CONTRAINDICATION IN A WHILE.
What do you do?
Depends how much profit you have? Maybe time to beat the rest to the door no?
Note
If the $45 zone break tomorrow, IT MAY GET UGLY.Also, watch for the GAP AND DUMP - AMD WILL STAB YOU EVERY TIME!!
Also, watch for any FALSE BREAKOUT TOMORROW.
Note
And I obviously indulged too much over vacation, as New Years Eve, is a full session of trading until 4pm...Note
And I obviously indulged too much over vacation, as New Years Eve, is a full session of trading until 4pm...Note
SUPPORT 1: $44.75 TO $45SUPPORT 2: $42.50 TO $43.25
SUPPORT 3: $40.75 TO $41.75
All depends on how greedy the buyers waiting are, and if they jump the gun too soon. Knowing humans, they jump the gun. They may get overwhelmed by sellers. Lets see.
Trade active
We have a DOJI at 8:00AM, then 3 Black Crows on the 5 Minute Shortly after.$45 break, and down we shall go.
Order cancelled
We are closing this and moving to Delta Neutral.Note
We are forming a bullish ascending triangle and we should probably Spring right out of that on January 2nd on Friday I wouldn't be surprised if gapped up first week of January with people rebalancing next week and I we believe that we will move higher. In 2000 INTC crashed in March and AMD made new highs in June or that year.
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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.