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gofx
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I trade stocks, options, and foreign exchange for fun and profit. I am not risk averse and often make short term trades.
  • AMD On Technicals 0 comments
    Nov 5, 2013 12:01 PM | about stocks: AMD

    I've been watching recent buzz about AMD and suspect that indeed we'll be seeing some interesting results based on console sales alone. Additionally, recent activity in the graphics card market also looks promising.

    Based on this as a backdrop, and I would imagine this is the reason, the technicals are shaping up for a possible upward move.

    (click to enlarge)AMD Chart (1yr by week)

    We appear to have the makings of a technical double bottom around $3.25 (see chart). If this pattern "fires" we might find we continue up to or through $5.00 based on additional positive news.

    Disclosure: I am long AMD.

    Additional disclosure: I own Jan 2015 AMD calls at $4.50 and $5.50 both.

    Themes: Technical Stocks: AMD
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