AMD extremely bullish 🔥. Targets: $99, $115
Updated
Greetings Investors,
I'm bullish on AMD, based on the following:
Bullish Factors:
1. Cup & Handle pattern, wherein the handle looks to be complete. Watch for a breakout above the upper line (blue) of the channel.
2. Double bottom, establishing firm support around $74, which is also around the 38% FIBO on the weekly chart.
3. MACD indicates bullish strength. Watch for the blue to orange crossover.
4. RSI (not shown) is 56, which is a great neutral entry point.
5. Long bullish weekly candle last week, with double bottom bounce at the 23% FIBO, indicating a very strong uptrend.
6. First target is resistance at $99. If it breaks resistance with strong volume, next target is $115.
7. Bonus (fundamental analysis): AMD beat on earnings report by 207% on 26 Jan 2021.
Weekly Chart:
Monthly Chart:
Strategy:
1. Consider the 19 Feb/19 Mar 100C by targeting a retest of resistance at $99.23.
2. Consider the 19 Mar $110 C.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
I'm bullish on AMD, based on the following:
Bullish Factors:
1. Cup & Handle pattern, wherein the handle looks to be complete. Watch for a breakout above the upper line (blue) of the channel.
2. Double bottom, establishing firm support around $74, which is also around the 38% FIBO on the weekly chart.
3. MACD indicates bullish strength. Watch for the blue to orange crossover.
4. RSI (not shown) is 56, which is a great neutral entry point.
5. Long bullish weekly candle last week, with double bottom bounce at the 23% FIBO, indicating a very strong uptrend.
6. First target is resistance at $99. If it breaks resistance with strong volume, next target is $115.
7. Bonus (fundamental analysis): AMD beat on earnings report by 207% on 26 Jan 2021.
Weekly Chart:
Monthly Chart:
Strategy:
1. Consider the 19 Feb/19 Mar 100C by targeting a retest of resistance at $99.23.
2. Consider the 19 Mar $110 C.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
Note
Inverse H&S pattern forming on the daily candle. Still waiting for a breakout from descending channel. 
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