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  • Swing Trade Idea – June 26, 2020

    Jun 26, 2020 Swing Options Tips Comments Off on Swing Trade Idea – June 26, 2020

    Our bullish trade for Friday, June 26th is AMD (Advanced Micro Devices Inc). AMD is part of the Technology Sector (XLK). XLK has experienced a 6.85% gain in the last month and its 1M and 6M trends turned bullish on April 8th and April 22nd respectively.

    AMD’s 1M trend turned bearish on June 24th and has been ranging the past few weeks to provide a good credit spread trade. With a technical score of 9 (out of 10), AMD is a very strong stock that will likely move higher. 

    As a stop loss, if AMD were to trade below $49.00 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We also consider cutting losses on this options trade if the value of the vertical spread moves above $4.20.

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