$AMD Breaks Support | 6:1 Downward Return

٢ مايو ٢٠٢٠

As much as I love AMD, it broke a 51.41 support with high selling pressure. RSI coming down and DI- moving up, and only within start of the upward range. Could argue this is a strong downward M formation. Technically speaking, high selling pressure for AMD.

Boundaries

• Lowest level support at 36.75
  
• Unlikely to come back up or would generate a false impulse purchase signal, but would set stop loss at
  

Risk / Reward

• Going short for $12.20 gain (24.86%) with stop loss at 52.04 for possible -$2.12 (4.25%. Roughly 6:1 odds in favour.