I am still struggling how to find it on chart. I use http://www.freestockcharts.com and for example looking at AMD I still cannot understand how you got that support lvl at 4.50. In the educational video example it is pretty clear but for real stock it seems is not
If your referring to my post int the AMD thread that was support from Level 2, that I use for daily trading. It can change as the market changes. Charts is all together different.
Let me add to that...Charts can get you to the support level but Level 2 can fine tune it for you. Say that you are ready to buy at 4.50 and there are a 1000 buyers and 3000 sellers, then you might want to drop your bid accordingly. As you are a new trader I suggest easing into your trades.
I am sorry but i am not sure what you mean by Level 2. I selected daily view chart and I see that the stock hit 4.50 few times, and resistance would be 4.60. I bought 300 shares for 4.52 in hope that it will go up after tomorrow's press conference from Lisa Su. Do you think I had to set limit order to buy it for 4.50?
Considering the markets dropping hard you were just 2 cents off the LOD (Low of the day) and there is no guarantee you would have filled at 4.50. As I write this AMD is getting near the 4.50 level again. Just remember you bought into a overbought stock and eventually they all pull back which AMD is doing today helped with pressure from the market. If Lisa Su comes through the price could sail and if not there could be a sell off. My gut feeling is that it will be good...TTT Introduction To Level II Quotes http://www.investopedia.com/articles/trading/06/level2quotes.asp
Congrats Andre, your up a nickle on your trade. Once there was a little market recovery the buyers rushed in on AMD and the 4.50 support held all day. Let's hope that Lisa Su drives the price up tomorrow.
