AMD: Triggering a Bearish Flag? Time to panic?
Hello traders and investors! Let’s see how AMD is doing today!
First, AMD triggered the pivot point in the 1h chart that we mentioned in our last analysis (link to it is below this post), however, the market is trying to frustrate our previous bullish thesis. Let’s update our thoughts.
The problem on AMD is that it is triggering a possible Bearish Flag pattern in the 1h chart, and this could lead us to the open gap at $ 105.39, which is a nice target for us here.
There’s still time for a reaction, and AMD could avoid this bearish scenario, but it must react quickly in order to reject this pattern.
In the daily chart, we see that it wouldn’t be easy for AMD to drop all the way to the last gap, as it has its Fibonacci’s Retracements working as support levels too.
For now, I must say I’m neutral on this, as we see better options around, but it all depends on how it’ll react from here. Any good reaction now, or at the gap at $ 105 could be a great opportunity to buy or add positions. I don't see it as an opportunity to sell, as the Risk/Reward ratio is not attractive to me.
I’ll keep you guys updated on this, so, remember to follow me to not miss any of my future analyses.
First, AMD triggered the pivot point in the 1h chart that we mentioned in our last analysis (link to it is below this post), however, the market is trying to frustrate our previous bullish thesis. Let’s update our thoughts.
The problem on AMD is that it is triggering a possible Bearish Flag pattern in the 1h chart, and this could lead us to the open gap at $ 105.39, which is a nice target for us here.
There’s still time for a reaction, and AMD could avoid this bearish scenario, but it must react quickly in order to reject this pattern.
In the daily chart, we see that it wouldn’t be easy for AMD to drop all the way to the last gap, as it has its Fibonacci’s Retracements working as support levels too.
For now, I must say I’m neutral on this, as we see better options around, but it all depends on how it’ll react from here. Any good reaction now, or at the gap at $ 105 could be a great opportunity to buy or add positions. I don't see it as an opportunity to sell, as the Risk/Reward ratio is not attractive to me.
I’ll keep you guys updated on this, so, remember to follow me to not miss any of my future analyses.
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