The positive news keeps coming from AMD, as the company continues to emerge as the global leader in hardware used in cryptocurrency transaction processing. With Intel falling further behind, AMD knows no equal in the space.
The monthly chart shows AMD currently breaking out of a bull flag pattern. The one-to-one extension of the flagpole suggests a target of roughly $24. This level corresponds with major prior resistance as well, so I anticipate a need to test the $23-24 level once or twice before breaking through.
In the more immediate future, I'm expecting a minor correction to perhaps $17 or so in response to the 18%+ gains of the last couple days.
Happy trading!
The monthly chart shows AMD currently breaking out of a bull flag pattern. The one-to-one extension of the flagpole suggests a target of roughly $24. This level corresponds with major prior resistance as well, so I anticipate a need to test the $23-24 level once or twice before breaking through.
In the more immediate future, I'm expecting a minor correction to perhaps $17 or so in response to the 18%+ gains of the last couple days.
Happy trading!
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Long term trend resistance further supports the mid-term target range around $24.
