Higher lows on AMD

  • Company:  Advanced Micro Devices
  • Stock Ticker: AMD
  • Bias: Bullish 

AMD has had an impressive year. What I really like is that beautiful double bottom with a higher low right off the 200 day simple moving average. Coming this Monday morning bullishness in the markets, I’m really liking a break above the candle on Friday. 

I’d look to put a buy limit order at $19.84, and I’d place my protective stop at around $18.25. This gives me ample room to have a good risk to reward ratio as my target would be the 100 day simple moving average which would also fill the gap from October 24th. Bet there are many others long traders that would take profit here.

AMD Chart

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