Technical Analysis for AMD 6/2-------Pre-Market

Divergence

Okay so two things here: Number one I'm heading to Italy and will be officially "out of the office" Thursday through Monday. So if Tex or someone else wants to take a stab at the daily posting that would be FANNNNNTASTIC. Alsoooooooooooo International travel when I'm isolated on a plane means a rally that I can't participate in too sooo good luck and enjoy the love.

So now Jensen is just knighting companies with Marvell???? I dunno about that but okay.

So looking at the chart the overall move appears to be waning. THIS STATEMENT DOES NOT MEAN THAT AMD WILL NOT GO UP! But the overall run seems to be losing its amplitude and we are seeing that divergence on our indicators. Our RSI is waning as is our MACD which both are lagging indicators. But when you overlay that with volume as well, it looks like a lot of money is piling in now who is late to the party when the smart money is already in.

Really hard for someone to take a new position in AMD at these levels currently. So yea I would just think about that if you are looking to buy, I would sit on your cash in a diversified ETF or something for the moment and keep your powder dry bc I think we are looking at the early stages of another consolidation period. Which could be a great thing for making money but also at the same time is going to burn these option traders too.