AMD Trade on Feb 2, 2022 09:38 from JRockTrades: Tradervue User Stock Trades.

Big Picture

Tech has been a mixed bag lately, running up to very high highs and leading the pullback in recent sessions. It found a bottom and has rallied strongly.

AMD reported earnings of eps $.92 vs $.76 estimate, revenue beat, raised guidance for a triple beat. Lots of raised targets above where it is trading.

Technical Setup

AMD had gapped from 117 to 130 on strong earnings. It's recent low during the tech selloff was 100, so this was a very large move in just 3 sessions. AMD had been selling from the premarket high into the open before retracing to VWAP. This was the decision point for my first trade entry.

Trade Management

I had to take 2 tries at the short from VWAP after the first stopped out, but no big deal. After the second entry I got a big red bar and was able to cover enough to make it a risk free trade. I had my eye on the low of the previous leg as a profit target. I was able to cover into this level and a little lower, capturing one leg of the trade. Ultimately I was bullish in this, so didn't want to hold for an extended move.

Technical Setup #2

As AMD had another leg lower, it came into the 124 level in one large move. I had bids at that level looking for a bounce. They got hit but stopped out when it flushed that level. It rebid 124 so I reentered.

Trade Management #2

I covered too much too quickly to cover risk, but after that I was able to take sales in smaller and smaller lots until 128. My last bit got trail stopped out when price dropped 126.50 just below VWAP.

Conclusions

These were great trades that worked out well. Kept size appropriate for my daily risk level. Very happy with the results.