AMD Pullback Levels After Surging to 536 on Earnings
The after-hours earnings report sparked a sharp rally, with the price peaking at 536. Volume is now contracting on the 1-hour chart, and the price has pulled back to around 516.
The key level to watch is the neckline support at 512, the platform where the rally began:
- As long as 512 holds, this is a normal pullback and retest. Consider scaling into long positions around 514–517 to trade a potential second leg higher;
- Set a stop-loss at 504. If that level breaks, it suggests the post-earnings gap-up is being sold off, so exit decisively;
- First watch 528 overhead, then 536, the previous high, if the price breaks through.
Chasing the rally before the regular session opens offers a mediocre risk/reward ratio. Waiting for a pullback to enter is a steadier approach.
$AMD #TradFi #USStocks
The after-hours earnings report sparked a sharp rally, with the price peaking at 536. Volume is now contracting on the 1-hour chart, and the price has pulled back to around 516.
The key level to watch is the neckline support at 512, the platform where the rally began:
- As long as 512 holds, this is a normal pullback and retest. Consider scaling into long positions around 514–517 to trade a potential second leg higher;
- Set a stop-loss at 504. If that level breaks, it suggests the post-earnings gap-up is being sold off, so exit decisively;
- First watch 528 overhead, then 536, the previous high, if the price breaks through.
Chasing the rally before the regular session opens offers a mediocre risk/reward ratio. Waiting for a pullback to enter is a steadier approach.
$AMD #TradFi #USStocks