AMD has been in the right sector. SMH and has enjoyed a really nice run up since 2016
that has formed a 5-year rising wedge. The wedge has given 2 warning signals while
forming a H&S pattern.
Semiconductors (SMH) is the only sector that has performed better than NDX consistently since 2015.
AMD has outperformed SMH. But as of late, this ratio is coming into resistance as SMH leads AMD.
Rising wedges can correct through time or price. If it's price like I believe it is likely going
to an expanding channel. If it is time then the small resistance line above should be broken.
Based on multiple warnings of breaking the support, H&S pattern and that it has dropped
20% I will go with the bearish outlook then look for a buy at lower levels should the wedge
turn into a channel which I believe it is.
All bets off when the market tanks!
that has formed a 5-year rising wedge. The wedge has given 2 warning signals while
forming a H&S pattern.
Semiconductors (SMH) is the only sector that has performed better than NDX consistently since 2015.
AMD has outperformed SMH. But as of late, this ratio is coming into resistance as SMH leads AMD.
Rising wedges can correct through time or price. If it's price like I believe it is likely going
to an expanding channel. If it is time then the small resistance line above should be broken.
Based on multiple warnings of breaking the support, H&S pattern and that it has dropped
20% I will go with the bearish outlook then look for a buy at lower levels should the wedge
turn into a channel which I believe it is.
All bets off when the market tanks!
Commentaire:
I got "lucky" again. ;)
Real Macro Economic Investing
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