Beginning new quarterly downtrend in American Micro Devices $AMD
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Derek Frazier shares and explains his ideas and process of decision making behind cyclitecnical trading. Please like and comment.
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Beginning new quarterly downtrend in American Micro Devices $AMD
Trap has been set
The 20 week cycle trough has been broken, the 80 week cycle has peaked, buyers bought above the weekly flag, the general market is down, the recent chips news with bans on AI to China, everything is going to cause problems for buyers
Target 95, 90 and 85 the next couple weeks on all of these bearish indications. Watch for daily levels to fail and set a stop above premarket and daily highs.
Regards,
Derek Frazier
Beginning new quarterly downtrend in American Micro Devices $AMD
I mean, there was a 10% move down after the call. But there was fundamental interaction on stocks due to the Fed. No big deal, stop should have been at Breakeven at the very least a small winner!