AMD & NVDA Struggle After Early Week Bounce
1. $Advanced Micro Devices(AMD)$
Monday's bounce vanished, retesting lows on Wednesday. The latest candle lacks bullish conviction, and Stochastics are curling down.
The gap is acting as a magnet; $Oracle(ORCL)$ filled its gap, will AMD differ? Better setups are elsewhere $VanEck Semiconductor ETF(SMH)$ ?. Learn to read indicators here👇 $Invesco QQQ(QQQ)$
2. $NVIDIA(NVDA)$
Unlike $S&P 500(.SPX)$ and $iShares Russell 2000 ETF(IWM)$ posted earlier, Nvidia's bounce from Monday has evaporated.
The stock failed to reclaim its 20 DMA, and with the Bollinger Bands widening, price action is now targeting critical support at the lower edge of the current volume shelf (arrow).
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