$Advanced Micro Devices(AMD)$
Zone: $527.56 to $535.00
Invalidation: close under $514.01
Objectives: $556.79, then $568.62
The math works out to a 4.8% move to the first objective and 7.0% to the second, against 3.3% risk on the invalidation, which is better than 2 to 1 to the second target.
The stock spent two weeks sliding from above $650 and then climbed back today, gaining nearly 3% to close near $531. The bounce matters because buyers held the line near $514 today after it had already found its feet near $502 last week. The November 3 report after the close gives them a fresh reason to keep pushing toward $556.79 first and then $568.62, while a close under $514.01 says the bounce failed.
The November 3 report after the close is the real test, so this swing is about the move into that test.
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