I know that it may look a little saturated, but if you are serious about investing in AMD (which is a good idea IMO, but not at this moment), look closer and you'll find a lot of useful info.
TL;DR: 1) Rally triggered by the launch of Zen2 processors got exhausted. 2) RSI divergence on both, weekly and daily charts. 3) Upcoming earnings (April 17, 2019) not promising anything good, Zen 2 sales declined. 4) AMD cut the prices for the latest Zen2 CPU's which indicates that sales are dropped and they are trying to squeeze every a little bit before upcoming earnings to don't show absolutely awful numbers. 5) Announced MOBILE Ryzen 4000 CPUs is in fact have older Zen2 architecture, not Zen3 as some may think based on the name.
I shorted at 56 and to be honest I'm really eager to re-enter, but we have to be patient, especially in current market conditions.
AMD developed a small wage which may retest the previous high. It may look like an opportunity for some day traders, but expose an extreme risk for long term investors. The target of the wage is right near the previous high, and if the price will bounce from it, we will have a Double-Top after which the price decline may be dramatic.
The targets are ~$35.50 and if after testing the trend line at $48.50 it will fail, the next support must be at ~$25. From $25 to anything lower I'll buy like there is no tomorrow.
I don't think it will go lower than $33, they really make amazing CPUs. Of course, after the virus thing is over, it will go above 60. To be honest, I shorted a lot out of this and other stocks the past few weeks, and now I'm glad that in the near future I will be able to buy at a lower price.
UnknownUnicorn3272672
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Agreed. It might get to $52 next week but then its headed to around $25 like you have but I have $22.
LanaFL
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@whynow111, I'm looking at 22-23 too, but I'll begin scale buying from 25.50