AMD Short setup $29.8 to $26ish. Fib/Horiz resistance
Side note, The magnitude of the bounce the US economy has had since the bottom in DEcember has been insane and unprecidented. I've never seen a bottom not get tested and just fly up vertically. Especially with poor GDP estimates and economic outlook data. I was pretty heavily short back in Feb, so that hurt a bit, but all you can do is learn from your mistakes and keep moving.
This is a self explanatory chart again. We're at the 0.786 fib retracement, and we're at a previous point of resistance from September 05 2018 at $29.94. We just went up almost 12% today, and it looks like a good time to pullback a bit in the next week. My stoploss is $31.
This is a self explanatory chart again. We're at the 0.786 fib retracement, and we're at a previous point of resistance from September 05 2018 at $29.94. We just went up almost 12% today, and it looks like a good time to pullback a bit in the next week. My stoploss is $31.
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Another solid win here. I also reshorted at $29 again on May 28th because I felt the technicals were stronger than the BS news. Closed at 28.