AMD looks weak for short term

Good day everyone, quick review at AMD.

Overall AMD is on a strong uptrend on weekly timeframe however now its struggling on the current 23~24 zone, lack of demand i say, see the volume decreasing on the attempt to go up?

So what to expect?

The big operators might retrace the price a little to shake weak hands and therefore resume the up waves.

Whats the strategy?

Wait for a retest of the price on the 21~20 zone and a clear rejection of it before going long.

Primary support stands at 18.90 level and then 16.50 (for this support to break IMO it must happen some catastrophe/crysis)

Primary targets are 25.0 and then 30.0 level.

For now we wait the re-test of the 21~20 zone, never try to anticipate the market.

This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.

註釋

Price looks like rejection on the zone so far.

註釋

Good rejection indeed, price action looking better now

註釋

Hah, nice rally, hope you guys picked it up, price action and volume still looks good, anyway its good to reduce position and raise s.l now =)