The Long Investor

$AMD TOP 20

Added 2024-05-26 16:10:28 +0000 UTC

Mixed week for $AMD, started the week strong as the market waited for $NVDA to report and when they did, it got pulled up with it, initially up +3% post earnings and looked strong, when the market started its sell off on Thursday, $AMD was not spared and rejected back below its 50 Day MA, so this important resistance level has not been flipped to support just yet.

Structure remains in place and still above the 200 Day MA but bulls need to flip the 50 Day, which is also the previous ATH blue line at $164 to a firm support level.

Bulls did finish the week above this level but this is not confirmation for me, a bounce and retest of this level is needed....especially after such a strong sell off over the last 4 months.

$AMD is a position I hold and will continue to hold while the structure is in place....I am not against adding here but I have prioritised adding other positions right now.