Chart Analysis:
AMD appears to be trading within an upward channel, but the price is hovering near the lower boundary of this channel. It seems like there is potential for a breakdown below this channel, which could signal a bearish move if confirmed. The key levels to watch are:
Support Levels: Around $154.52, where the volume profile shows significant activity, indicating a strong support level.
Resistance Levels: Around $162.03 and $157.97, which are previous highs and where price action might face resistance.
The MACD indicator shows a potential bearish crossover on the horizon, which could further support a downside move if momentum follows through.
Volume Profile:
The volume profile shows a high concentration of activity between $156.63 and $157.97. If AMD breaks below the channel, these levels could act as initial support. However, if the price breaks above $157.97, it could signal a continuation of the bullish trend.
Block Orders & Volume Analysis:
No clear block orders or large volume spikes suggest significant institutional buying or selling at the moment. However, keep an eye on the volume during market hours tomorrow. If you see increased volume near the $154.52 support, it could be a sign of buyers stepping in, whereas a break below with increased volume could indicate further selling pressure.
Market Outlook & News:
According to recent economic data, there aren't any major announcements scheduled for tomorrow that directly impact AMD. However, keep an eye on broader market trends and geopolitical tensions that could influence overall market sentiment.
General Market Sentiment:
The overall market remains cautious, with concerns around global economic growth and inflation. If these factors create a risk-off environment, tech stocks like AMD could see some volatility.
Trading Strategy for Tomorrow:
If AMD Breaks Below $154.52: Consider shorting or waiting for a clearer entry point. Set your stop loss slightly above the lower channel boundary around $156.63.
If AMD Bounces Off $154.52: Look for a long entry, targeting $157.97 and $162.03, with a stop loss just below $154.52.
Stay updated on broader market conditions as any sudden shifts could impact your trades.
AMD appears to be trading within an upward channel, but the price is hovering near the lower boundary of this channel. It seems like there is potential for a breakdown below this channel, which could signal a bearish move if confirmed. The key levels to watch are:
Support Levels: Around $154.52, where the volume profile shows significant activity, indicating a strong support level.
Resistance Levels: Around $162.03 and $157.97, which are previous highs and where price action might face resistance.
The MACD indicator shows a potential bearish crossover on the horizon, which could further support a downside move if momentum follows through.
Volume Profile:
The volume profile shows a high concentration of activity between $156.63 and $157.97. If AMD breaks below the channel, these levels could act as initial support. However, if the price breaks above $157.97, it could signal a continuation of the bullish trend.
Block Orders & Volume Analysis:
No clear block orders or large volume spikes suggest significant institutional buying or selling at the moment. However, keep an eye on the volume during market hours tomorrow. If you see increased volume near the $154.52 support, it could be a sign of buyers stepping in, whereas a break below with increased volume could indicate further selling pressure.
Market Outlook & News:
According to recent economic data, there aren't any major announcements scheduled for tomorrow that directly impact AMD. However, keep an eye on broader market trends and geopolitical tensions that could influence overall market sentiment.
General Market Sentiment:
The overall market remains cautious, with concerns around global economic growth and inflation. If these factors create a risk-off environment, tech stocks like AMD could see some volatility.
Trading Strategy for Tomorrow:
If AMD Breaks Below $154.52: Consider shorting or waiting for a clearer entry point. Set your stop loss slightly above the lower channel boundary around $156.63.
If AMD Bounces Off $154.52: Look for a long entry, targeting $157.97 and $162.03, with a stop loss just below $154.52.
Stay updated on broader market conditions as any sudden shifts could impact your trades.
Nota
The significant drop in the market on August 22, 2024, was driven by a combination of factors:Hawkish Comments from the Federal Reserve: Concerns over future interest rate hikes resurfaced after hawkish comments from Federal Reserve officials, indicating that inflation is still a concern and that rates might stay higher for longer.
Weak Economic Data: Poor economic data, including lower-than-expected manufacturing numbers and rising jobless claims, added to fears of a potential recession.
Global Uncertainty: Ongoing geopolitical tensions and economic concerns in China further exacerbated market fears, leading to a broader sell-off across various sectors.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.