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AMD First Price Target Revised to Current Levels (downtrend line)

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.

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Oct 22, 2015 1:10pm|Categories: Completed Trades - Long, Long-Term Trades- Completed|Tags: |2 Comments

2 Comments

  1. vim2 October 22, 2015 6:42 pm at 6:42 pm

    Randy
    Would like to have your thoughts on the current play in the stocks and commodities generally. Thank you.
    Regards

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  2. rsotc October 22, 2015 7:26 pm at 7:26 pm

    @vim2 I’ve just recent started to turn my focus back to the broad markets and commodities as I’ve been primarily focused on trading a few individual stocks & sector etfs recently, such as DUST & NUGT. I hope to publish some charts and/or videos by the weekend regarding the outlook for the equity markets & if I see anything compelling, any opportunities that stand out in the commodities arena as well.
    From my limited analysis recently, I think that US equities may be poised to kick-off the next major leg down very soon but I need to study the charts further before I can state that with enough conviction to start aggressively shorting. As I’ve stated for a while now, I expect commodities to outperform equities into year end & most or all of 2016, just waiting for the next objective entry on both groups (sector & individual commodity specific, of course) and trying to stay open to all possibilities, including the potential for one last thrust higher in the broad markets (doubtful, but certainly a possibility).

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