Wednesday, April 19, 2006

New Play - AMD (Bullish)

AMD
The stock price had been dropping from its 52-week high of $42.70 to a low of $29.97. The stochastics and RSI are showing "Buy"signals. The candlestick charts showed a confirmation candle ("Buy" signal too). Fundamentally, the stock is good and had been gaining market share at the expense of INTC.
I played Jul $32.50 Call. The stock closed at $31.54.

Target 1 = $34.38 (also 38.2% Fibonacci level)
Target 2 = $36.16
Target 3 = $38.40
Stop Loss = below $29.97


- PersianCat04 (Millionaire-in-progress)




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