AMD: Time to buy or to sell? Watch these KEY POINTS for now!
Hello traders and investors! Let’s see how AMD is doing today! We have some points to update since our last study.
It is good to see how AMD looks resilient, as unlike many other stocks, it is not losing its key supports in the short/mid-term. I was hoping it would fill the gap at $ 105, and it still could do it, but we have a possible bullish reversal sign right now.
In the 1h chart, we see a possible Inverted H&S chart pattern. I say “possible” because the pattern wasn’t triggered yet, but if it does, AMD could easily reverse to the $ 132 again and fill its gap near the previous top. The trigger point for this IH&S is the $ 118 area (red line).
This is the only bullish pattern I see around that could save ADM from the $ 105.
So far, the Fibonacci’s retracements have been doing an amazing job holding the price, and only if we lose 61.8% retracement I will believe in sharper correction. For now, I’ll remain neutral, just waiting for an opportunity. Therefore, let's pay attention to the key points mentioned in this analysis, as they might offer good opportunities for us in the near future.
Remember what the greatest trader that ever lived once said: “There is time to go long, time to go short and time to go fishing.” - Jesse Lauriston Livermore.
I’ll keep you guys updated on this, so remember to follow me to not miss any of my future analyses.
It is good to see how AMD looks resilient, as unlike many other stocks, it is not losing its key supports in the short/mid-term. I was hoping it would fill the gap at $ 105, and it still could do it, but we have a possible bullish reversal sign right now.
In the 1h chart, we see a possible Inverted H&S chart pattern. I say “possible” because the pattern wasn’t triggered yet, but if it does, AMD could easily reverse to the $ 132 again and fill its gap near the previous top. The trigger point for this IH&S is the $ 118 area (red line).
This is the only bullish pattern I see around that could save ADM from the $ 105.
So far, the Fibonacci’s retracements have been doing an amazing job holding the price, and only if we lose 61.8% retracement I will believe in sharper correction. For now, I’ll remain neutral, just waiting for an opportunity. Therefore, let's pay attention to the key points mentioned in this analysis, as they might offer good opportunities for us in the near future.
Remember what the greatest trader that ever lived once said: “There is time to go long, time to go short and time to go fishing.” - Jesse Lauriston Livermore.
I’ll keep you guys updated on this, so remember to follow me to not miss any of my future analyses.
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