Courtesy of AC Investor
Chart courtesy of www.stockcharts.com ( click to enlarge )I am keeping AMD on the list for Wednesday. INTC released better then expected numbers after Tuesday’s close, which should lead to the semiconductor sector bouncing on Wednesday. If this sector shows strength on Wednesday, I will buy AMD above Tuesday’s high of $3.61. If the stock breaks $3.60 on a close basis, we should see it pause at $4.00 and then make a strong upside move to $4.80. From a technical perspective, the stock has formed a positive divergence pattern and we could see a rally on the stock, if it is able to move above the $3.61 level and if overall market sentiment for frontline tech stocks turns positive.
Chart courtesy of www.stockcharts.com ( click to enlarge )CIEN broke through its short term resistance level of $9.50 on Tuesday, and looks ready to go higher. The stock was able to close positive in a choopy market environment, which is another reason to continue watching. The technical chart shows the stock is rising as K line is on top over D line showing buy signal. Once CIEN breaks above Tuesday’s high of $9.76, get ready to enter the trade on the continuation move.
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