Now I decide to look into AMD just cause all of the developement they have been doing and was looking to see when I can get some good options on AMD.
Looking straight off the bat it doesn't look great. We have dropped below the 20 and 50 EMA with it going straight towards the 200EMA. Now to me it doesn't seem to bad, yet as many people noticed around 6pm central premarket has dropped over 1% and China and South Korea trying to recover over the virus which isn't that bad, but for AMD it will hurt.
Now without news related market movements its the MACD thats pretty concerning since it doesn't look like a cross over is happening anytime soon on the 30min or hourly, yet slightly bullish heading towards bearish on the Daily time frame. I would hold off and wait for premarket tomorrow and if its still dropping or choppy wait for the trades to settle in before making a call.
My targets I see is the hold the old trading range of 47.7-50.16 or 51.65 as a breather. I know brutal target, but my options when I get in would expire in June/July with a target of $60 calls if we drop, yet price target could be at $80.
Looking straight off the bat it doesn't look great. We have dropped below the 20 and 50 EMA with it going straight towards the 200EMA. Now to me it doesn't seem to bad, yet as many people noticed around 6pm central premarket has dropped over 1% and China and South Korea trying to recover over the virus which isn't that bad, but for AMD it will hurt.
Now without news related market movements its the MACD thats pretty concerning since it doesn't look like a cross over is happening anytime soon on the 30min or hourly, yet slightly bullish heading towards bearish on the Daily time frame. I would hold off and wait for premarket tomorrow and if its still dropping or choppy wait for the trades to settle in before making a call.
My targets I see is the hold the old trading range of 47.7-50.16 or 51.65 as a breather. I know brutal target, but my options when I get in would expire in June/July with a target of $60 calls if we drop, yet price target could be at $80.
