AMD Update
If AMD can't hold above $108, then I see it back-testing $106, from there that could be a good entry for calls.
You could use $104 as your stop loss from $106 entry, although I see AMD getting bought up and not going any lower than 104-106, 104 would be the bottom if it broke down from the 106 level.
A break below 104 could result in a back test to 100, then 95 if buyers don't step in.
Above 106 AMD can test 110,112, then 118.
I wouldn't trade weeklies on it at the moment, Aug 20th/27th calls would probably be the safest option in my opinion.
You could use $104 as your stop loss from $106 entry, although I see AMD getting bought up and not going any lower than 104-106, 104 would be the bottom if it broke down from the 106 level.
A break below 104 could result in a back test to 100, then 95 if buyers don't step in.
Above 106 AMD can test 110,112, then 118.
I wouldn't trade weeklies on it at the moment, Aug 20th/27th calls would probably be the safest option in my opinion.
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