Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Monday, December 25, 2017

Will AMD Bounce Continue?

The powerhouse chip stock AMD hasn't gone anywhere the past six months.  AMD failed a triangle breakout a couple of months ago but two weeks ago it set down on double trend line support and it bounced a little.


click on image to enlarge




This level support should send it upward for a few weeks, however, this past week it gave back most of the week's gains so the jury is  still out.  If AMD were to slip through both the lower red channel line and the upper line of the long term green channel, shorting could come in from all directions.


Trade well my friends

Alan






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