AMD Target $132 - Pump expected soon

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🐂 Trade Idea: Long - AMD

🔥 Account Risk: 1.00% - 5.00%

📈 Recommended Product: Knockout / Option (for 1.00% position) or Stock (for 5.00% position)

🔍 Entry: +/- 108.00

🐿 DCA: Yes, down to 102.89

😫 Stop-Loss: 93.05

🎯 Take-Profit #1: 132.82

🎯 Take Profit #2: 150.00

🎯 Trail Rest: Yes (trail after TP #1)

🚨🚨🚨 Important: Don’t forget to always wait for strong confirmation once possible entry zone is reached. Trade ideas don’t work all the time no matter how good they look. Do not get a victim of FOMO, there is always another trade idea waiting. 🚨🚨🚨

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AMD hit a larger weekly resistance zone around 132.00 and retraced from there building a double top and a break through the former local low at around 116.00. We might see a move up to that yellow resistance at 116.00 before we finally go south into the support zone. Unless that former high at 102.89 isn’t broken together with that trend line we remain bullish and expect a continuation of that uptrend.



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Nota
So far, so good. We dipped into the buying zone and retraced back to 116. Pre-market suggests more way down as expected. Watch AMD closely for possible entries in the buy zone. Do not forget to keep an eye on NASDAQ100. If that one collapses, this trade will be invalid. For now we are still on track.
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