Friday, November 9, 2012

AMD Follow Up

AMD looks very much like it saw a head fake move yesterday, I think I mentioned this before/yesterday, but for more conservative entries (they aren't my favorite as I don't like chasing, but I think AMD has enough potential upside) would look like this.

 AMD Range (the bottom trendline should be pulled over more to the left. Her you can see yesterday's head fake break below the range, it did hit stops or trigger orders.

 Here's a closer look at the break yesterday, note the volume at the break and the volume as price moves back above.

The first area there's likely to see some upside momentum is >$2.15 and then above the range at the $2.23 area.

They are more conservative entries, but again I think AMD has the potential that it might very well be worth it, even there.

No comments: