AMD (Advanced Micro Devices) offers an objective short entry here at 11.19 following the recent bearish rising wedge breakdown with an alternative entry or add-on following a break below the 11.00 support level. Suggested stop above 12.08 (or lower, if only targeting T1 or T2) with a suggested beta-adjustment of 0.75.
AMD 60-minute Jan 3rdAMD 60-minute Jan 3rd
Price targets shown on this 60-minute chart are T1 at 9.82, T2 at 9.24 & T3 at 8.36 with the possibility of additional targets, depending on how the charts of AMD & the semiconductor sector play out going forward. The alternative entry of waiting for a solid or impulsive break & maybe a 60-minute close below the 11.00 support level would provide a slightly less favorable entry price but a higher probability of the trade successfully reaching the price targets without being stopped out. For various reasons, including the possibility of a gap below that support level, my preference is to short in advance of a break of the 11.00 support level.