AMD is coming into an area where supply previously came into the market, in a big way. The last couple times it tried to rally above the supply bar/gap-down, the sellers came in and squashed it. Yesterday (the last bar on this chart) had double the volume but the close appears to indicate sellers coming in again.
We believe AMD stock price will continue to rise, and here is why. Strong growth and firing on all cylinders!
Just sold 2/5th of my position at $13.80. That's a little less than the amount of shares I bought at 10.08 when the stock filled from $15 into the upper 9's on the Goldman Sachs manipulation to get themselves an entry at those low levels. Still holding a much larger position than I hold in anything else.
Not expecting AMD to make a nice comeback this morning. I sold to close one of my calls yesterday to lock in profits, still holding my 3k shares along with a couple of calls.
Interesting... Its possible, but I think they will try hold out and gain as much market share as possible first!
