The dreaded death cross and a bearish pennant flag - What next?

21 באפר׳ 2021

If you go back in AMD's chart, the golden and death cross has historically been a pretty good indicator to follow, and today, the death cross occurred, right below the pennant. While this may seem bearish, Id wait another couple days to make a trade because AMD just hit a looong support line ( A support trendline thats held for nearly 4 years (its that green line)). This could go two ways now, the bears win and that support turns resistance OR the trendline holds and this was just a fakeout. Tell me what you think
(The results probably very largely dependent on their earnings report on 27th, which might be not be too great cos of the semiconductor shortage plaguing everyone)

Thanks for reading, ask me anything and ill definitely respond - Hit that like button and follow me for more like this, itd mean a lot :)

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For anyone new to TA, Ive decided to explain any terms I use, just in case it helps someone -
A death cross is when the 50 day MA moves under the 200 day MA (bearish)
A golden cross is the opposite, its the 50 day MA moving over the 200 day MA (bullish)
The pennant flag is that thing I drew in blue, its a pattern that when you draw over, it kinda looks like a pennant hanging on a flagpole, when its upside down its bearish and when its straight up its bullish