I am revising T1 from 2.18 to the downtrend line, where AMD is currently trading (current price of 2.16). AMD (Advanced Micro Devices) remains an Active Trade with T2 & T3 still the next & final targets at this time although the odds for a reaction off this first tag of the downtrend line since early July are elevated at this time. With the original first price target only 2 cents above the current price of 2.16, it would only be prudent for those planning on booking partial or full profits at T1 to do so here vs. risking a pullback to gain another 2 cents on the trade, or at the very least, raise or trail your stops at this time.
Revising the first price target to 2.16 provides a 17.4% gain from the entry price of 1.84 on August 10th (first chart above). In light of my recent analysis on the semiconductor sector that was posted along with yesterday's SOXL short entry, I may decide to officially close the AMD trade and remove it from Active Trades category soon. As of now, I'll continue to monitor the sector closely.