Nvidia AMD in bearish territory?
$Advanced Micro Devices(AMD.US$
Would like to share my short trades journey. Tried to short when I saw signals after 30th Mar that MACD indicator orange line is going below blue line (which signal some potential bearish divergence) and given that Nasdaq just done a dead cat bounce in mid March.
Would like to share my short trades journey. Tried to short when I saw signals after 30th Mar that MACD indicator orange line is going below blue line (which signal some potential bearish divergence) and given that Nasdaq just done a dead cat bounce in mid March.
Lesson learnt on 13th April when I presume mkt may do a technical rebound and closed off my shorts. but decided to short AMD on 14th April again as I'm still bias downtrend.
I am looking for AMD support around $75 to close position OR may go long tonight if there is technical rebound in $NASDAQ(NASDAQ.US$. As for those who are thinking to buy Nvidia, do watch out if mkt continue to drop and there is a gap fill around $150 range.
I will also watch $CBOE Volatility S&P 500 Index(.VIX.US$ closely tonight and tmr. VIX did not break below level 20 and continued uptrend in early April. Last night VIX closed above resistance 32.50 and next resistance is near 44. Looking to see if stock mkt will do a technical rebound soon if VIX retraced down.
Hope my sharing is useful in some ways.
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Been trading for abt a year. Rely more on technicals.
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DwarfCo : NVDA and AMD are both overvalued
Talklili : Nvidia suffered its second down day in a row today, falling 3.5%
Valery S OP : VIX still looking strong on 1 hr chart. Waiting to see if can break out of 33.