AMD should trace back and consolidate before surpassing 42
Within a few weeks, before the New Year, company insiders will also sell some significant amount of stock, possibly causing a small chain reaction, triggering a lot of SL positions (hopefully in profit for most people) and the leveragers to get quite burned. Don't get me wrong, the team at AMD definitely did a very good job this year, and they deserve some rewards for their hard work, I am definitely long for AMD. But at the moment the stock is heavily overbought, and a correction is imminent in my opinion, probably a drop to around 33.5. At that time it will really be time to buy.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.