Buying Opportunity. Target: $100
Greetings Investors,
I'm bullish on AMD , based on the following:
Bullish Factors:
1. Strong Uptrend with a double-bottom bounce from the 38% FIBO level.
2. Recent bounce from the 23% FIBO level ($85), perhaps due to positive earnings (%206 surprise), but this is a cursory fundamental analysis.
3. Strong support at 38% FIBO, which is also the annual EMA (dark grey line).
4. Price is below quarterly EMA and near the bottom of the bollinger band, which I interpret as an opportunity to buy.
5. If price falls below $84, with strong volume, next level of support is $75 which directly intersects the annual EMA (dark grey line). I think this is also a great entry for AMD.
6. AMD could retrace all the way to $60 (although I strongly doubt this will occur) and still be considered a bullish uptrend.
7. First target is resistance at $99. If it breaks resistance with strong volume, next target is $115.
Bearish Factors:
1. Price. AMD is below both the monthly and quarter EMA.
2. Bearish volume. As price decreased, volume increased, which confirms the sell-off of shares. This could be simple profit-taking.
3. Bearish momentum and MACD. Sellers may attempt to drive price down to find better entry points.
Strategy:
1. Consider the 19 FEB 100C by targeting a retest of resistance at $99.23.
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. Strong Uptrend with a double-bottom bounce from the 38% FIBO level.
2. Recent bounce from the 23% FIBO level ($85), perhaps due to positive earnings (%206 surprise), but this is a cursory fundamental analysis.
3. Strong support at 38% FIBO, which is also the annual EMA (dark grey line).
4. Price is below quarterly EMA and near the bottom of the bollinger band, which I interpret as an opportunity to buy.
5. If price falls below $84, with strong volume, next level of support is $75 which directly intersects the annual EMA (dark grey line). I think this is also a great entry for AMD.
6. AMD could retrace all the way to $60 (although I strongly doubt this will occur) and still be considered a bullish uptrend.
7. First target is resistance at $99. If it breaks resistance with strong volume, next target is $115.
Bearish Factors:
1. Price. AMD is below both the monthly and quarter EMA.
2. Bearish volume. As price decreased, volume increased, which confirms the sell-off of shares. This could be simple profit-taking.
3. Bearish momentum and MACD. Sellers may attempt to drive price down to find better entry points.
Strategy:
1. Consider the 19 FEB 100C by targeting a retest of resistance at $99.23.
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.
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