AMD Long Follow Up

AMD is a long that I would like to see remain open, but the way it acts over the next few days and most likely tomorrow will determine whether this is one to keep or to come back to.

Here are the charts...

 AMD could pullback from here back to the $2 area and possibly create a huge base, it could pop from here for a decent gain or it could even pop here for a short trend, the best way to see what AMD has in the tank is to see it run 3-4% and see how underlying trade acts, if it holds up, I'd probably hold it, if it shows profit taking, I'd have to come back to AMD another day.

 The 15 min chart you'll notice looks a lot like the 30 min chart below, both have a decent area of support they have put together, this is why I say it could move up in a short trend, i don't think we could see a sustained trend without AMD pulling back t the $2 area and building a much larger base.

 This is the 30 min chart

 using the Trend Channel on the only real trends on the chart, we have a +39% (and these are VERY conservative entry prices) long, a +69% short and a 5-9% long depending on where you consider the entry, I went with a VERY conservative entry.

The 5 min chart looks like AMD may give us that litmus test, below 5 mins. I don't trust the signals as the trade in the lower timeframes is very spotty.