This Semiconductor Play Just Flashed 'Sell'

Published 01/10/2017, 02:44 PM
Updated 05/14/2017, 06:45 AM
AMD
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Investors should expect major downside on shares of Advanced Micro Devices (NASDAQ:AMD) in the coming weeks. Just days ago, the stock had a huge bearish engulfing reversal candle at multi-year highs. Following that reversal, AMD has put in a classic bear flag chart setup. That means the stock is days away from its next leg lower.

Target

The ultimate downside target is $9.15. This is a high reward, low risk setup. The stop can simply be any daily close above the 52-week high of $12.42. This gives double the reward on a short versus the risk.


Advanced Micro Devices

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