$AMD Strong Breakout
Advanced Micro Devices, $AMD, is breaking out on strong volume today. There are a few things I like about this chart. First, it held the 200-day in March as the S&P 500 went on a serious decline. Second, there were a few shakeouts below the 50-day. I was stopped out on one of these in June. While it can be frustrating to be stopped out only to see a stock return higher, sometimes these shakeouts can be constructive. Third, I like to see heavy volume coming in as a stock makes a new high, which is what we're seeing in AMD. Finally, I've noticed that breakouts are generally working in the current market environment. There are no lock bets on Wall Street, but the best we can do is play the probabilities while keeping risk management as a priority.
Full Disclosure: AMD is a stock I currently own.
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