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Amdlong

AMD Long on break of $88.50AMD Play: * Enter on expanding volume on a break of $88.50 * Exit at $99.50, look for pullback for re-entry * Full pattern price target: $106.81 * Stop loss 2 ATR at entry, around $84.50 * PnL Ratio: ~2.00 Rational: * Trading within a rectangle pattern for the past 199D 5H * AMD trades with SPY 51% of time, we can see a recent large rectangle break on SPY, and SPY is close to breaking out of its own continuation rectangle pattern. * Last rectangle we saw on AMD was for 104D, ended up far surpassing the 20% price target (+47%). * Black Friday / Cyber Monday may lead to increased profits for AMD, investors may anticipate this and increase interest in AMD * 50D MA has caught up to AMD, allowing it to "catch" AMD if it ends up falling slightly * AMD still trading above 50D MA.
NASDAQ:AMDLong
by OYE12