I think you maybe right, but I want a reversal sign before I jump in. Trading against news is dangerous.
Just sold a little over half my position at $33.613. Honestly was watching it real close at $34.1X and looking for a sale but then some work came up and I lost ~$0.50/share. Oh well, still have made tons on AMD. Only sold because my position is far too large. $34 has acted as resistance 3 times now, 4 if you include today.
I'm with StockJock-e, there was over 100m shares traded today on that long red, low-end-close bar. Have to wait and see if there is follow-thru.
Exactly, and that's why I don't give a thought to the underlying asset. If I had tens of millions to invest in AMD then maybe I'd care about the value of the underlying asset but for my measly 1000 or less shares and hack financial abilities and total lack of access to meaningful information, I'm better off just following the big money and their teams of researchers.
It's been pretty consistent all year, only losing this uptrend once when the whole market was eating shit for a week
Bought back the same amount of shares just now that I sold on 8/30 for $31.35. Just rebought at $29.94.