AMD Trade Idea

AMD to All time highs? Let's check out the big picture.

The Big Picture

• Many investors feel like they missed out on the NVIDIA trade and will likely look for the next best thing, AMD.
• If the QQQs get above 357.50, I think AMD will explode!
• From a technical perspective, This is a very bullish set-up! 

AMD may need to consolidate further, but I'm watching this Wedge forming above the Gap. The moving averages all scream bullish momentum. Again, the follow-through will likely need the overall market support.

30 min timeframe

is holding above the Gap with three bounces off support, which is very bullish in my experience. Price broke above the larger wedge pattern with a GAP U, more bullish action. 

Depending on how price opens up on Monday, I want to see a nice set-up from my playbook above 125.50 or 127.25

Entry Criteria

• I want to see Elevated Rvol
• I want to see the Overall Market in my  Favor
• I want to see a Set-up from my playbook

Reason to Hold

Overall Market breaking & holding above resistance 

• If QQQ's above - $357.50

• If SPY is above - $432

If price finishes at high-of-day (HOD)

Reason to Cover

• If the Market Breaks down

• If there is Breaking News on the stock

• If Price holds below VWAP for an extended period of time
• If Price can't hold above prior support. 

If the Trade idea works out, I'll keep you updated!