, founder of TradingAnalysis.com, said the name now faces a critical test that, if it passes, could produce an explosive rally.
"If we go all the way back here to 2000 and we just throw up a trend line across the top we can see that we've intersected this line and we have two formation points" in 2000 and 2006, Gordon told CNBC's "" on Tuesday. "It looks like we're trying to get that head of steam to eventually break up through the $35 to $40 region and when we break, it should be pretty spectacular.
AMD needs to rally another 20% to touch $35, a level that corresponds with the long-term trend line. The stock has not traded above $35 since April 2006. "This is an almost 20-year trend resistance. I like the formation here, near term just around the $30 region. We've been fairly quiet here in April and May, through this pretty good period of volatility in the overall market," Gordon said.
To take advantage of an expected breakout, Gordon is buying the July 19 expiration 30/34 call option spread for roughly 98 cents. This is a bet that AMD can move as high as $34 before expiration, or 17% upside from current levels.
TradingNation 2018 was Record - Breaking year for crypto exchange hacks. Do not let it happen to you , Get your Ledger Nano X at promotional price directly from Ledger website.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Twitter's Jack Dorsey And Square Are Making Mass Bitcoin Adoption 'Inevitable'Jack Dorsey, the chief executive of micro-blogging social network Twitter, is taking further steps toward incorporating bitcoin and cryptocurrencies into his payments business, Square... I’ve still got my fingers crossed for when twitter will verify my account I’ve done a lot in my life IamNomad 😂😂😂That rug
Source: Forbes - 🏆 394. / 53 Read more »
Twitter's Jack Dorsey And Square Are Making Mass Bitcoin Adoption 'Inevitable'Jack Dorsey, the chief executive of micro-blogging social network Twitter, is taking further steps toward incorporating bitcoin and cryptocurrencies into his payments business, Square... Can he just give us an edit button instead.... Beware of tech CEOs wearing black turtlenecks like Steve Jobs lol profgalloway jack XRP and Cashapp would be great!!!!!
Source: Forbes - 🏆 394. / 53 Read more »
Twitter's Jack Dorsey And Square Are Making Mass Bitcoin Adoption 'Inevitable'Jack Dorsey, the chief executive of micro-blogging social network Twitter, is taking further steps toward incorporating bitcoin and cryptocurrencies into his payments business, Square... Jack means business. Jack Dorsey, perhaps envision the future! Jack Dorsey, Twitter really needs an edit button. But yall refuse to put one in.
Source: Forbes - 🏆 394. / 53 Read more »
Wall Street misunderstands Tesla, says analyst whose lowest price target is triple current levelsAn analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture. Is making high technology cars an expensive dream or is this company worth much less? It’s a joke that you give these clowns any attention. Most TSLA bulls would even agree those targets are ridiculous 'Analyst'? No, shareholders
Source: CNBC - 🏆 12. / 72 Read more »