(AMD: 10.89 -1.36%) still looks good for a trade to $3+
Latest quote: (aapl: 153.80 -0.12%)
What do you see here:
… or a falling wedge (bullish)?
I’m leaning towards the Head-and-Shoulders, because an ideal falling wedge would form after a downtrend. Falling wedge is a reversal pattern, and it’s the final drop before the bottom, with ever lower volatility producing smaller spikes, so this doesn’t qualify.
Anyway, I would never-ever bet on AAPL one way, and I think the best way to play this is a straddle. It’s a volatile stock, a straddle should produce good results, most of the time.
I may have been too hasty selling AMD, as the volume and pattern confirm an imminent breakout, despite a short-term overbought condition.
Might have to chase it…
Out at $2.50 for $0.35 profit. Would like to re-enter at a lower level.
(AMD: 10.89 -1.36%) reports earnings on January 29, 2013.