AMD Short Term Trade
AMD faced stiff resistance at the 38.2% for some time but had a breakout today. RSI and MACD confirm price reversal to the bullish zone. DMI remains bullish for the long term and the trendline is moving past 20 to indicate a strong trend. I anticipate some resistance at the 61.8% FIbonacci line as there was a previous reversal in this zone. Traders should look to take profit near the 61.8% zone and look to re-enter the trade if the price bounces from the 38.2% Fibonacci again.
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Check out more details on this trade here:
https://www.tradingview.com/chart/AMD/lDOUxspI-AMD-Short-Term-Trade/
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