AMD Bounce play!?

Hey all,

If you look a little bit left on AMD's chart, you'd see that the mid-70s level is very strong support for AMD. Considering my bullish thesis on NVDA over the next month(though I think it will eventually go lower), I think playing a bounce through July is the right move to make. I just took a long position on AMD at 76/share, but it is very possible it goes a little lower before the said bounce. I WARN you guys though, that I'm only playing a bounce, and this is not an investment; I do think AMD will eventually go lower. I think a conservative estimate is that AMD will see the mid-high 80's again, though it is POSSIBLE AMD sees the high of the range it is trading in in the high 90s. Best of luck in your guys' trading!