Bulls_Brew

Bulls_Brew Updated 

With the markets getting oversold, does AMD, who has been in a long downtrend, finally find buyers at its longterm VAL? This is the area to see if buyers finally show up in my opinion.

Bulls_Brew

There are only 1.44% of S&P Info Tech Stocks above the 50 DMA. Looking at history dating back to 2015, we generally get bounces around these zones. Even if bounces come, you would want SKFI to get back over the 50% range and hold. Failure to get back over and hold has historically let to more downside.

Bulls_Brew

The charts shown are highlighting the 12 month periodic volume profile chart. Currently, the S&P 500 and Nasdaq 100 are bouncing off major 2024 value areas. Nasdaq 100: Last week we can see how bulls lost the 2024 value area high (VAH) and couldn't reclaim. As a result we swiftly moved down to the point of control (POC) where we found buyers show up. S&P 500:...