AMD in a bear flag.Advanced Micro Devices - 30d expiry - We look to Sell a break of 55.48 (stop at 59.11)
Price action is forming a bearish flag which has a bias to break to the downside.
A break of the recent low at 57.17 should result in a further move lower.
Daily signals are bearish.
There is no clear indication that the downward move is coming to an end.
Our overall sentiment remains bearish looking for lower levels.
Our profit targets will be 46.46 and 43.46
Resistance: 64.00 / 69.00 / 78.00
Support: 57.20 / 54.60 / 50.00
Disclaimer – Saxo Bank Group.
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