AMD Advanced Micro Devices Weekly and Daily Charts Oversold Falling Wedges Positive Divergence

AMD is set up very attractively with positive divergence on both the daily and weekly charts across all indicators. This is typically a very high percentage play. AMD is on the launch pad, all fueled up, waiting for the fuse to light.  The stock has been beaten to a pulp and at the least a dead cat bounce would be expected but with the falling wedges, oversold conditions and universal positive divergence, the bounce should be more like a rocket ship ride.  Perhaps some news will hit about a big contract for AMD? Or maybe they fire thousands of workers, that will get a stock price to move higher.

The downward-sloping channels are wicked.  The only  item to knit-pick is the last few days with the MACD line and money flow. There is the tiniest bit of desire to see another matching low to today's numbers, say, 3.17-3.25, printing inside the apex of that falling wedge, and that should seal the deal for the bull launch.  As always in trading, the best looking trades have a way of blowing up in your face so Keystone's carcass may end up strewn about in the parking lot. Calling bottoms is a dangerous game that Keystone plays. AMD will be fun to watch. Projection is a launch move higher at any time, perhaps targeting the gaps above (green circles). If a close under 3.2 occurs, the trade will likely have to wait and reload with more shares in the 2.7-2.9 area, but, considering the firm possie d, she looks good to go right now. Keystone is long AMD, bot more at the lows today. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.