AMD built distribution at highs
Updated
AMD Long idea. Has been in daily uptrend since the beginning of this year with higher highs and lows. Currently trading above 20D with 50D > 200D. Has formed a distribution > 91 implying that price wants to explore higher, or keep building value at the highs. There's a play for upside continuation.
Recent action implies a pullback from 2sd 20D. Trade is invalidated with a lower low < 76.
Buy target is 92 - 93 / 89 / 86 (lower targets are if pullback is not done)
Profit targets are 95 / 97 / 99 / 102.
Note
Sad -- I had AMD 100 12 MAY 23 lined up for 3.00 and hit save instead of send 🙄Took off today: 3 -> 4
Oh well. Will continue to monitor if continuation is worth or not.
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.