AMD has likely completed wave 2 through a 61.8% retracement of wave 1, this correction has also brought AMD to a major support structure. Volume profile and previous support/resistance tests show this structure is strong. Anticipate AMD beginning a Wave 3 upwards over the coming weeks. AMD reports earnings on 10/27 which can act as a fantastic catalyst for a powerful move.
Trade attivo:
Fantastic entry here on AMD, high conviction play here. Very choppy action on 10/22 but I entered several positions, January calls and shorter term 10/30 calls for some quick profit.
Commento:
Some after-hours moves due to INTC earnings but couldn't hold the rally. Still a decent retest of the break-out trendline for this descending wedge.
Trade chiuso manualmente:
Trade was closed manually when we failed to overtake the 85 target. Looking for new entries into AMD.