Incredibly Rare Pattern on AMD
I try to avoid being too enthusiastic about how I view a market. But AMD has one of the most interesting price journey's I've seen.
The price action displayed in AMD indicates a secular bull market in the stock. I have never seen price history with such a wide range, to the extent of price and time like AMD has - 2300% increase from the bottom of the range to the top of the range, during a 30 year period, with both the top and bottom range revisited 6 times in three decades). IMO, this is the type of technical scenario (price history) that could justify the possibility for a 10x or more opportunity within 5 years. The risk is also very well defined with the 20 year range-high now acting as support.
Bigger picture:
My former analysis is below; Related Ideas
The price action displayed in AMD indicates a secular bull market in the stock. I have never seen price history with such a wide range, to the extent of price and time like AMD has - 2300% increase from the bottom of the range to the top of the range, during a 30 year period, with both the top and bottom range revisited 6 times in three decades). IMO, this is the type of technical scenario (price history) that could justify the possibility for a 10x or more opportunity within 5 years. The risk is also very well defined with the 20 year range-high now acting as support.
Bigger picture:
My former analysis is below; Related Ideas
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Weekly - Looking at the execution
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Q1 follow up - Looking at the execution:
Price touched both trend line and 50 week moving average at about $38 per share. Price also held its horizontal $43 support (2000 and 2006 highs).
Price touched both trend line and 50 week moving average at about $38 per share. Price also held its horizontal $43 support (2000 and 2006 highs).
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Big breakout on the daily in AMD today
