Hi Shoppers,

Check out the bearish engulfing candle in Advanced Micro Devices (Ticker: AMD):

Not only is it bearish engulfing but it is a very large red candle showing the stock made a big reversal on the day.

This could be signaling a reversal of this massive rally of $51 in just over a month.

Once it is confirmed that the stock is ready to trade lower, I think it’s possible to trade down to my support level that comes in at $117.

If it trades below there, it could try and close that gap and trade down to $109.50.

Before hopping into those puts, remember to wait for the confirmation.

Trade Review

I last wrote that Pepsi (Ticker: PEP) looked bullish.

It has yet to take off, but it is forming a bull flag meaning it is consolidating or gearing up for its next leg higher.

I’m still thinking $185 – $187 in PEP.

Thanks for Reading … See You Next Tuesday,

Licia Leslie