$Advanced Micro Devices(AMD)$ AMD closed Friday at $516.79, up about 1.7% on the day, after sliding to near $508 and holding there. The setup here is betting that Friday low was the floor, with a walk back toward $548 first and then toward $580 if buyers keep showing up. A close under $500 says the floor gave way.
The math: up 6.0% to the first objective and 12.2% to the second, against 3.2% risk on the invalidation, better than 3 to 1 to the second.
Earnings land after the close on November 3, so this is a swing into that print with a clear line that says the idea is wrong.
Watching $523.92, the Friday high. A move back above it shows buyers pressing again.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
