Breakout of 1-year trading range with volume and relative strength to the market. Note how the trend indicator "Range Movement" bolted out to a new high well before this breakout, which indicates accumulation and an easier path on the upside.
Buy pullbacks under previous day's lows in the next 10-days. The stop is wide to enter here, so perhaps 1/3 long here, 1/3 on drops under previous day's lows on the next two times. For example, if today's low holds (4.63) for the day, then tomorrow you would buy at 4.62. If tomorrows low is 4.50 (just a guess), then the next day you would buy at 4.49. This would spread your entry out over 3 days.
Stop Loss = 3 times the 11-day ATR, subtracted from entry.
Tim 4.70 last 10:12AM. Earnings are due on 7/17, in 2 days = warning for anyone wary of a massive gain or loss if you hold through an earnings report. NOTE HOW LARGE THE MOVES ARE AROUND EARNINGS in this stock.
Comentários
timwest
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AMD rallied back to the Key Level and provided "in hindsight now" a decent exit level for any buys and a decent place to sell short (but this is hindsight analysis)
A-shot
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I actually have that one as well from your chart. it even bounced off another one recently didnt it?
QuantitativeExhaustion
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Sure did get ugly once support broke. CEO couldn't deliver on time, so he was ousted. I still like AMD, just needs more time before we attempt to break that 4.65/4.80 resistance wall.
gatorNic
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Well I heeded your advice about the large moves at earnings and seeing that the last 3 out of 4 earnings you have marked were drops I avoided making a move on this. Down 18% today. Question is, has it dropped too far or are you considering this a buying opportunity?
A-shot
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indeed, it dropped each time, i count all 4 a failed rallies. Problem is that it did not dive 20% in previous ones i think. And with each failed ER people may get even more skeptical. On the other side, its a beaten underdog.
timwest
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I'm watching and waiting to see if it can climb over the lowest EPS line drawn on the chart. I waited until after earnings to consider buying for myself, but didn't want to miss a blastoff like the chart was giving an indication of. I like the old "three day rule" after bad news and then look for a rebound then. Today is day 2 (Monday, July 21), so let's revisit this stock at the end of Tuesday and on Wednesday morning to see how it is then.
HamedAghajani
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Please mention your entry as you decided to trade this market. Thanks for your all informative analysis.
timwest
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I'll do my best to update everyone.
QuantitativeExhaustion
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We are waiting on that significant APU partnership(s) with either GOOGLE or APPLE, possibly both. Still hanging tight and bubbling in an ascending triangle.
A-shot
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One of the few stocks that were in plus yesterday. Is that greater confidence than we think? Misses ER - tumble double digits. But in a huge market sell-off stays put and green. So far this is the most manipulated large cap i've seen