Contributions to the Bearishness
I wish I would have seen this SEC filing in after-hours the night before. Today was historically one of the best day trade short opportunities in this name. The market reacted very negatively to this news during after-hours. And the bearishness continued in a big way the next day when the market was selling off big time. AMD was one of the biggest losers in the market compared to all of the other mega-cap tickers symbols.
$NVIDIA(NVDA.US$ $iShares Semiconductor ETF(SOXX.US$ $Direxion Daily Semiconductor Bull 3x Shares ETF(SOXL.US$ $ON Semiconductor(ON.US$ $Qualcomm(QCOM.US$ $Micron Technology(MU.US$ $Texas Instruments(TXN.US$ $Intel(INTC.US$ $Global X Semiconductor ETF(SEMI.AU$ $PHLX Semiconductor Index(.SOX.US$
$SPDR S&P 500 ETF(SPY.US$
$SPDR S&P 500 ETF(SPY.US$
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TinkerB3ll : Any thoughts will it break down the 52 low? Yes it killed me during after hour when i woke up to see it dropping like a dim. And im still holding despite down by 20%. Didnt thought it will such bearishness
SpyderCallOP TinkerB3ll: the way things look right now I think that the price of AMD will reach 52. Im not sure if it will dip below 52 yet. The momentum is very strong to the downside. But the weekly candles are showing oversold conditions. oversold conditions will last a long time in a strong downtrend. But there will be small corrections to the upside in a downtrend. Personally I am not long on semiconductor stocks because they are the worst performers relatively in this bear market. but when they do get those bear market rallies then they are the best performers. I hope the price will go up for you. but i am very scared of the semiconductor companies in this downtrend. Might want to cover your long position until the trend turns upward. Do you know how to cover a trade?
Jamesbond86 SpyderCallOP: Could you PM me on discord? Zk#4570
TinkerB3ll SpyderCallOP: Added you on chat and love to hear your thoughts :) but 52 certainly sounds bad. I always think the market will recover will demand for semicon but who know our lovely president decides to ban the export. And the miss from AMD kills it.
The funny thing now is oil is the play again