AMD After earningsAMD after earnings. My idea on how to play. I expect a fade. Don't think it will gap and go because:
1. Earnings were not that bad. AMD beat estimates but in the data center segment which is why the market is punishing it
2. Bears will take profit meaning there is a chance for a fade.
3. Initial response to earnings after hours last night was up. Algos Moved it all the way up to 126 which might be a reason to see how it will play
Why it could be a gap an go
1. There is no support. Next support could be 100 (round number) and 95 and 75 (100 Monthly SMA)
2. Big volume yesterday which could be some kind of Bull squeeze (all bulls are trap this morning and will be trying to close their positions)