AMD Advanced Micro Devices, Inc.BATS:AMDErictaylorWe were watching for a break and hold above $219, which would open the door for continuation toward $227, $232, and $236 based on key Fibonacci extension levels. That scenario played out cleanly with a gap up and strong move into the $232–$236 zone, hitting projected targets almost perfectly. ⸻ Current Price Action Now that AMD has reached this area, price is beginning to show signs of slowing momentum. •We saw a failed breakout attempt above the local structure, followed by a rejection •Price has since pulled back into $232.15, which is acting as a key Fib support level •Currently, we are chopping between $232 and $233.50, indicating potential exhaustion ⸻ Key Levels •Resistance: $236–236.50 •Current Support: $232.15 •Next Support: $230 → $227 •Lower Supports: $222 → $219 ⸻ Bearish Scenario (Short Setup) I am personally starting to scale into a short position in this area, with a defined risk: •Stop loss: Above $236.50 •Looking for confirmation through loss of $232 If AMD: •Breaks below $232 •Shows follow-through below $230 👉 This would likely lead to a move toward $227, which is the next major support where buyers previously stepped in. A break and hold below $227 could open downside continuation toward $222 and potentially $219. ⸻ Bullish Invalidation If AMD: •Reclaims strength and breaks above $236.50 👉 Then the short thesis is invalid, and continuation higher becomes more likely. ⸻ Key Takeaway AMD has already completed a strong upside move into resistance. The current price action suggests momentum may be slowing, and this becomes a decision zone: •Holding $232 → potential continuation attempt •Losing $232 → opens downside rotation This is a reaction-based setup, not one to anticipate—wait for confirmation before committing size.