AMD Rebounds Towards Resistance! Key Levels to Watch. Jan 14
Technical Analysis Overview:
1-Hour Chart:
* Trend: AMD has broken out of a descending channel, signaling a potential bullish reversal.
* Indicators:
* EMA (9/21): The price is trading above the 9 EMA and 21 EMA, confirming short-term bullish momentum.
* MACD: Shows a bullish crossover with increasing momentum, supporting further upside.
30-Minute Chart:
* Price Action:
* AMD is recovering from its recent low of $113.30, with $118 acting as a critical level.
* Resistance lies at $120-$122, aligned with GEX levels and gamma resistance.
* Volume: Rising volume during the breakout indicates strong buyer interest.
Key Levels to Watch:
Support Levels:
* $116: Immediate support level with high gamma activity.
* $115: Strong PUT support zone.
* $113.30: Recent swing low and key support.
Resistance Levels:
* $120: Critical resistance level aligned with 22.31% GEX (GEX8).
* $122: 2nd CALL Wall, significant gamma resistance.
* $126-$130: Strong CALL walls and major resistance zones.
GEX Insights:
Key Gamma Levels:
* Positive Gamma Walls (Resistance):
* $120: Immediate resistance with 22.31% GEX.
* $122: 27.79% GEX (3rd CALL Wall).
* $126: 33.46% GEX (2nd CALL Wall).
* $130: 22.03% GEX (GEX10).
* Negative Gamma Levels (Support):
* $115: -96.94% PUT support, critical for maintaining bullish momentum.
* $113: Key support, near significant gamma level.
Options Metrics:
* IVR: 62.2, showing elevated implied volatility.
* IVx: 53.3, above average, reflecting potential price movement.
* Call/Put Bias: 31.3% Calls, indicating neutral to slightly bullish sentiment.
Trade Scenarios:
Bullish Scenario:
* Entry: Above $120 with confirmation of volume.
* Target: $122-$126.
* Stop-Loss: Below $115 to limit downside risk.
Bearish Scenario:
* Entry: Rejection at $120 or $122.
* Target: $116-$113.
* Stop-Loss: Above $126 to control losses.
Directional Bias:
* AMD is recovering strongly, but $120-$122 remains a critical resistance zone. A breakout could propel it towards $126 or higher, while rejection could bring the stock back to test $116-$115.
Conclusion:
AMD's breakout signals short-term bullish momentum, but traders should watch the $120-$122 resistance closely. Gamma levels provide a clear framework for upside and downside targets.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your research and trade responsibly.
1-Hour Chart:
* Trend: AMD has broken out of a descending channel, signaling a potential bullish reversal.
* Indicators:
* EMA (9/21): The price is trading above the 9 EMA and 21 EMA, confirming short-term bullish momentum.
* MACD: Shows a bullish crossover with increasing momentum, supporting further upside.
30-Minute Chart:
* Price Action:
* AMD is recovering from its recent low of $113.30, with $118 acting as a critical level.
* Resistance lies at $120-$122, aligned with GEX levels and gamma resistance.
* Volume: Rising volume during the breakout indicates strong buyer interest.
Key Levels to Watch:
Support Levels:
* $116: Immediate support level with high gamma activity.
* $115: Strong PUT support zone.
* $113.30: Recent swing low and key support.
Resistance Levels:
* $120: Critical resistance level aligned with 22.31% GEX (GEX8).
* $122: 2nd CALL Wall, significant gamma resistance.
* $126-$130: Strong CALL walls and major resistance zones.
GEX Insights:
Key Gamma Levels:
* Positive Gamma Walls (Resistance):
* $120: Immediate resistance with 22.31% GEX.
* $122: 27.79% GEX (3rd CALL Wall).
* $126: 33.46% GEX (2nd CALL Wall).
* $130: 22.03% GEX (GEX10).
* Negative Gamma Levels (Support):
* $115: -96.94% PUT support, critical for maintaining bullish momentum.
* $113: Key support, near significant gamma level.
Options Metrics:
* IVR: 62.2, showing elevated implied volatility.
* IVx: 53.3, above average, reflecting potential price movement.
* Call/Put Bias: 31.3% Calls, indicating neutral to slightly bullish sentiment.
Trade Scenarios:
Bullish Scenario:
* Entry: Above $120 with confirmation of volume.
* Target: $122-$126.
* Stop-Loss: Below $115 to limit downside risk.
Bearish Scenario:
* Entry: Rejection at $120 or $122.
* Target: $116-$113.
* Stop-Loss: Above $126 to control losses.
Directional Bias:
* AMD is recovering strongly, but $120-$122 remains a critical resistance zone. A breakout could propel it towards $126 or higher, while rejection could bring the stock back to test $116-$115.
Conclusion:
AMD's breakout signals short-term bullish momentum, but traders should watch the $120-$122 resistance closely. Gamma levels provide a clear framework for upside and downside targets.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your research and trade responsibly.
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