AMD blue sky breakout or rejection of crucial resistance zone!?
AMD has had an awesome run but is currently testing levels that have so far been crucial in beating down price... What price will do next nobody knows but knowing AMD it will probably be interesting!
Looking at the weekly chart shows very clearly the two peaks at the higher level and the multiple times price was rejected off the level below that. Going short could be a tactic here IMHO but would most definitely wait for confirmation or preset all entry parameters to fit such an event to mitigate risk. Going long is of course also an option (after confirmation) but only one can be right ;) I must admit a short bias on this particular chart due to the history of this price level!
Looking at the weekly chart shows very clearly the two peaks at the higher level and the multiple times price was rejected off the level below that. Going short could be a tactic here IMHO but would most definitely wait for confirmation or preset all entry parameters to fit such an event to mitigate risk. Going long is of course also an option (after confirmation) but only one can be right ;) I must admit a short bias on this particular chart due to the history of this price level!
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